‘Sad ending’ - administrators give update as Nottingham business enters liquidation
Administrators have confirmed that the all the company’s staff have been made redundant
A total of 10 staff have been made redundant after a 36-year-old Nottingham business entered liquidation.
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Garment distributor GS UK, based in Crocus Street, entered administration in September and it has now emerged that the company’s entire workforce has been laid off.
Established in 1988, GS UK provided garment decorating services to the UK textile industry for over 30 years, whilst supplying thread stock and equipment including embroidery machines, printers and laser cutters.
Administrators from advisory firm Quantuma have been appointed to manage the restructuring process.
Quantuma director and Joint Administrator Richard Easterby said: “It is deeply regrettable that GS UK has been forced to cease trading, due to a series of challenging circumstances.
“This was a sad ending for a long-established company. Our thanks go to all of the employees who worked hard during a difficult time and gave the company every chance to find a buyer. But unfortunately, it simply wasn’t to be.
“As Joint Administrators, our immediate priorities have been to provide appropriate support to those whose jobs have been affected whilst seeking to obtain maximum value for the Company’s creditors.”