260 jobs lost as Cornish lighting manufacturer calls in the administrators
Fitzgerald Lighting has gone in to administration, with 260 jobs lost so far, mainly at it base in Bodmin, Cornwall.
The business has been manufacturing and distributing industrial, commercial and domestic lighting products for 36 years and had 357 employees, most of whom were based in Bodmin
Richard Hill and Joff Pope of KPMG LLP have been appointed administrators. Richard Hill, KPMG partner and joint administrator, said: “It is always upsetting when an established manufacturing business with a loyal and long serving workforce enters insolvency. Increased competition has resulted in substantial losses being incurred in recent years and attempts to restructure the company have been unsuccessful. Rescue efforts were hampered by reduced demand across the lighting sector during 2008.”
Hill continued: “We are assessing the best way of realising the company’s assets which mainly comprise property, stock and specialist equipment. A number of parties have expressed interest in acquiring parts of the business and we are talking to all potential purchasers with a view to selling whatever we can as a going concern. However, 260 staff were made redundant on Monday 1 December.”
Fitzgerald Lighting has distribution depots in Birmingham, Edinburgh, St Helens, West London, Belfast, Dublin and Dubai.
Electrical and Mechanical Contractor