Oakworth calls the administrators in
Published: 06 February, 2012
Updated 7 February
KEIGHLEY: John Russell and Chris White of The P&A Partnership have been appointed administrators of Oakworth Joinery, the UK’s largest independent window and door manufacturer.
The business in Keighley, West Yorkshire, employs 170 people and is the town’s second biggest employer.
Mr Russell said: “Our immediate priority is to look at options for the business and we are consulting with staff, creditors and customers. Unfortunately Oakworth is a victim of the continuing downturn in the construction sector and of difficulties in accessing finance for new machinery.”
Oakworth Joinery was bought from Nobia Holdings UK Ltd in 2010 and has been manufacturing in the town since 1965.
John Russell continued: “Oakworth’s directors have tried their hardest to keep the business trading profitably and took appropriate professional advice early on in order to give the business the best chance of survival. They actually found a buyer themselves, but unfortunately the deal fell through last Friday.”
Update: 7 February
Redundancies as Keighley joinery firm to close this week
Oakworth Joinery, Keighley, which went into administration last Friday, is shutting down this week with the loss of 170 jobs.
Joint administrator John Russell of The P&A Partnership said: “The business has been loss making with a declining order book for some time. Unfortunately, we have been unable to secure trading terms with Oakworth’s major customer who accounted for almost 75 per cent of orders.
“It is a huge blow to the workforce – many of whom have worked for Oakworth for a number of years. We will be onsite assisting staff with claim forms for redundancy payments and other entitlements. Also, we have a special website where we will post up to date information and advice for staff.”
Mr Russell and Chris White were appointed administrators of Oakworth Joinery on February 3. The firm was the UK’s largest independent window and door manufacturer and Keighley’s second biggest employer. Oakworth Joinery was bought from Nobia Holdings UK Ltd in 2010 and has been manufacturing in the town since 1965.
The administrators are now looking to sell Oakworth’s assets, including equipment.