Woodhead has ceased trading and made the majority of its employees redundant.
The company cited market conditions and the impact of rapid price increases throughout the supply chain, coupled with fixed price contracts as being the root cause of its demise.
Teresa Westwood, managing director at Robert Woodhead Limited, said: ‘The directors are devastated at having to make this decision.
“Having worked tirelessly to mitigate these issues over recent months, ultimately the business faced a range of cash flow challenges in recent weeks that proved insurmountable and concluded that the company could not continue trading.”
RSM will shortly be writing to all creditors to explain the formalities around placing the company into voluntary liquidation.
In the meantime suppliers looking to make a claim should email restructuring.eastmidlands@rsmuk.com.
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