County Labels enters administration
Monday, October 29, 2018
Self-adhesive and pressure-sensitive labels manufacturer County Labels has gone into administration, with the loss of 30 jobs.
Ben Woolrych and Anthony Collier from FRP Advisory were appointed joint administrators of the Macclesfield, Cheshire-based business last Monday (22 October).
The administrators said the company, which was established in 1987, had “suffered severe trading difficulties in recent months, driven by a significant drop in sales and reduced margins due to increased material costs”. This led its directors to cease trading the business on 8 October and all 30 employees were made redundant.
County Labels served high street names and international brands from leasehold premises. Its assets included Mark Andy and Arsoma label printers, Omega converters and rewinders, Stanley foil presses and various other general factory assets and these are all now being auctioned for sale by the administrators through Tallon & Associates.
“County Labels was a leading manufacturer of high-quality labels and despite the business historically trading profitably, a number of challenges have caused significant financial pressures, which led the directors to place the business into administration,” said Woolrych.
“We have worked closely with the directors to fulfil as many customer orders as possible and while we have been unable to find a buyer for the business as a going concern, the business’ assets will now be auctioned to realise a return for creditors. We’re also continuing to support all employees affected during this difficult time.”