Posts Tagged ‘Atlas Caravans’
Hundreds of workers who lost their jobs at a caravan factory are expected to find out on Monday how much redundancy pay they will receive.
More than 340 employees at manufacturer Atlas in Hull were made redundant when the firm effectively ceased trading last Wednesday.
Atlas Caravans, based off Hessle Road, has called in a firm of administrators.
The outcome of talks between the firm, Hull City Council and administrators will emerge on Monday.
Administrators BDO Stoy Hayward said the firm had suffered a “significant downturn in demand”.
They said market difficulties and “discretionary spending” were to blame.
Graham Newton, from the administrators, said: “Atlas has seen a significant downturn in demand, aggressive competitor pricing and has struggled with a high fixed cost base.
“The administration reflects the continuing market difficulties being experienced by those who manufacture high capital value but discretionary spend items.”
Mr Newton also cited poor trading conditions in the caravan sector which, he said, were the same as those being endured by high street retailers or motor vehicle dealers.
He added: “Atlas, however, remains a very strong name in the industry and we remain hopeful that there will be significant interest in the remaining business and its assets.”
There are now just 30 people understood to be working at the site.
Quote from http://news.bbc.co.uk/1/hi/england/humber/7794482.stm Related Blogs
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