Morecambe-based catering equipment fabricator Lines and Jones’ manufacturing plant and freehold property are due to go to auction, after attempts to find a buyer for the business were unsuccessful.
The company ran into financial difficulties earlier this year due to reducing cash flow and challenges surrounding staff retention.
Business advisory firm Quantuma was appointed administrators to the company on 28 November. The process is being led by Quantuma managing partner Carl Jackson and partner Andrew Watling.
Prior to the Quantuma team’s appointment, 20 employees were made redundant.
Lines and Jones was founded in 1947 and manufactured catering and kitchen equipment, providing services across the UK. The business had an annual turnover of c. £1.1m.
Jackson said: “We are seeing a number of challenges in the manufacturing sector, due to economic turbulence and a widespread skills shortage. As a result of these difficult trading conditions, the business found itself facing difficulties in retaining staff, and diminishing turnover.
“We have been appointed administrators to the business, and will endeavour to secure the best possible outcome for creditors, with the plant and freehold property due to be sold via auction shortly.”