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End of road for Southfields
Page 14
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David Harris mourns the demise of a long-established name in the business
TRAILER MANUFACTURER Southlields will cease trading at the end of this week, unless a lastminute buyer emerges.
The Nottinghamshire firm has been run by administrators since 19 September, but they have concluded that because the company is unlikely to be bought as a working business it is best for it to be broken up.
The closure will mean the loss of the last 50 jobs at the Langar factory. where 30 of the 80-strong workforce have already been laid off. The sale of assets should cover their wages and holiday pay, says joint administrator Gerald Smith, but unsecured creditors such as raw material suppliers are unlikely to get their money. The funds from the sale of the factory will go to the Royal Bank of Scotland.
• See Investigation. page 28