A COMPANY, which employs 90 people in Droitwich, has gone into administration.
Solus Garden and Leisure Ltd appointed Rob Hunt and Tony Barrell of PwC as joint administrators of the firm yesterday (Thursday).
The company did have a turnover of £29.3million in the six months to March 30 and employs around 250 people in total across its locations.
As well as the 90 in Droitwich, there are 63 in Hunnington, 16 in West Bromwich and three in Tipton.
Solus wholesales a number of third-party products and has a portfolio of well-known brands. These include Yeoman, Joseph Bentley, ChapelWood, Garden Nation, Botanico and Bermuda.
In late 2013, in the face of difficult trading conditions, Solus sought additional investment in a bid to turn around its fortunes.
The directors have been engaged in discussions for some weeks with a range of parties to try and secure that investment.
But, whilst considerable interest was shown in the business, no offers were lodged to provide a solvent outcome and as a result, the directors have decided to place the company into administration.
Tony Barrell, joint administrator and director, PwC said: “Our immediate priority is to engage with employees, key customers and suppliers with the aim of continuing to trade, which we believe is achievable.
“We are pleased to confirm that employees will be paid for work done prior to our appointment and whilst they continue to work.
“We are hopeful of securing a sale and there are already a number of parties interested in purchasing the business.”
