Hopes for factory dashed as assets are sold off

ANY last lingering hopes of saving a Cramlington interior design products manufacturer after it was put into administration in July have now been dashed.

Property management firm Edward Symmons has been appointed by administrator Mercer and Hole to sell off the assets of H-A Interiors via an online auction after failing to find a buyer for the troubled firm.

The Station Road factory, part of the German company Alkor-Venilia GmbH, was one of Europe’s leading wall covering manufacturers, is based in Station Road.

Financial troubles besetting its parent company forced it to cease production in April and its 74 staff were made redundant in July.

The business was initially marketed as a going concern, but no buyers willing to inject enough cash came forward.

Among the assets up for sale online are gravure printing presses, hundreds of design cylinders, packaging machinery, machine tools, measurement equipment, office furniture and stocks of finished goods.

James Nield and David Swift, the auctioneers running the sale, said: “We will be marketing the business assets to an extensive database of national and international contacts during our online auction.

“We will strive to reach Asia and Eastern Europe with the printing presses and finishing equipment.

“The general-purpose assets will receive a large level of interest from the UK, Europe and beyond.

“This approach will ensure the maximum returns for the company’s creditors.”

The internet auction will close on Tuesday, October 25.