# Westwood Yarns Limited (01257868)

> Why UK company 01257868 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01257868

- **Status:** Administration ended
- **Administration began:** 2015-12-23
- **Administrators' firm:** KPMG
- **Incorporated:** 1976-05-10
- **Location:** Manchester
- **Industry:** 13100 Preparation and spinning of textile fibres

## Why it went into administration

- Cash flow / liquidity pressure
- Credit insurance / supplier credit withdrawn
- Loss of a key customer, supplier or contract
- Supply chain disruption
- Sustained trading losses
- Parent or group failure
- Competition / price pressure

## From the administrators' statement

The Company was incorporated on 10 May 1976 and spun specialist yarns at the Washpit Mills, an 8 5 acre site in Holmfirth, Yorkshire At the date of appointment the Company employed 132 staff and had three directors, Richard Collinge, Tim Kay and Trevor Chippendale, of which only Trevor Chippendale was on the payroll

In October 2015, the Company was purchased by two of the current directors, Richard Collinge and Tim Kay, via a special purpose vehicle, Westwood Speciality Yarns Limited Richard Collinge and Tim Kay were not previously involved in the business prior to the purchase

The Company was previously a wholly owned subsidiary of Victoria Carpets Limited ("Victoria”}, which had owned the Company for 26 years Victoria was the Company's largest customer, accounting for approximately 80% of its turnover

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01257868/filing-history/MzE0MjQzMDQ3OGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01257868

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.