Jobs at risk as Burnley business falters
Burnley-based Industrial Anti-Corrosives has gone into administration following a sharp dip in sales.
The plastics processing and machining specialists called in business advisory firm BDO LLP to find a buyer while the company continues to trade.
The family business was established in 1978 and employs 39 skilled staff, all of whom will be retained while the sale process goes ahead though they have been warned that some job losses are possible.
BDO's Kerry Bailey said: “Unfortunately the economic climate and difficult trading conditions have significantly affected the business. Though the company has a good customer base, in recent months it has not been possible to generate the necessary volume to make the business viable. However, the business has a sound reputation and strong order book.
“Our objective is to sell the company as a going concern and it will continue to trade whilst the options are explored.”