Caldwell's Manufacturing closes after 240 years
Published: 10 September, 2009
WARRINGTON: The loss of a contract with Wickes Building Supplies forced administrators to end attempts to sell Caldwell's Manufacturing as a going concern.
Talks between administrators from MCR and Wickes ended without an agreement. According to an administrator's report, the Wickes contract contributed £1.3m, about 40% of turnover, and the business could not continue without it.
The company also suffered after its parent withdrew a £200 000 loan earmarked to move manufacturing to China. Non-preferential creditors owed £900 000 are unlikely to see a dividend while Royal Bank of Scotland, which is owed £500 000, is expected to recoup its debt.
The 240-year old family owned firm manufactured tools for the gardening, agricultural, equestrian and contractor industries. Its long history included making shovels used to dig trenches in the First World War.