Jobs go as Highbridge's Woodberry
& Haines enters administration
of Highbridge's largest employers has this week gone into administration
with the loss of scores of jobs.
Bros & Haines has recently experienced financial difficulties,
and has not been successful in finding a buyer or new investment.
long-running firm based on the Walrow Industrial Estate, which
employed 175 staff and had a turnover of £10m, has manufactured
furniture for retailers across the UK since 1949.
workers - out of a total workforce of 175 - were made redundant
spokesman for administrators PricewaterhouseCoopers (PwC) told
Burnham-On-Sea.com that late last week a trade supplier issued
a winding up petition, accelerating the firm's crisis.
a result of this, the company's directors had no alternative but
to seek the protection of an administration.
Connock, joint administrator and director at PwC, added: "Over
recent years, the business has seen its turnover reduce and was
in need of restructuring, but lacked the investment to do so."
operations are well located with a strong employee, customer and
supplier base but regrettably the current position of the company
is such that we have had to make the immediate decision to cease
operations which has resulted in the redundancy of the majority
immediate priority is to work alongside the remaining employees
and assess the options available that could preserve and protect
the company's assets."
will involve discussions with a number of key stakeholders and
and Ross Connock and Matthew Hammond were appointed as joint administrators
of Woodberry Bros & Haines Limited on Wednesday 2nd July 2014.