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Begbies Traynor appointed to administration of historic furniture business 10 September 2014

A furniture designer and manufacturer that has been in business since 1880 has entered administration.

WP Eglin Ltd, based in Sowerby Bridge, has entered administration after efforts to sell the business as a going concern were unsuccessful. The business creased trading on 8 September and all 23 staff have been made redundant.

After failing to secure financial support, the business was unable to compete in a strong marketplace against larger competitors.

Peter Sargent, Richard Kenworthy and Nick Reed of Begbies Traynor were appointed as joint administrators to the company.

Sargent, partner at Begbies Traynor, said: “It is always sad to see a business fail, particularly one with such a long heritage and loyal workforce.

“Eglin is a fairly small player in a congested market place, facing lots or larger competitors, and it was simply unable to secure the sales it needed to survive.

“We are currently doing all we can to support the former staff, including working with Job Centre Plus and using our own contacts to identify other employment opportunities. Alongside this, we are also making every effort to secure a return for the creditors by marketing the business’ assets and are confident that the Victoria Road site will prove of great interest to developers.”

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