Glassware supplier Gleneagles of Edinburgh has today called in the administrators.
In a statement released last night, managing director Paul Travis said: “The current economic climate, problems with supply chain and credit crunch has meant despite the gallant efforts of the directors and staff we cannot trade on.”
He said that he and the administrators would “be trying to find a home for what is remaining of the company and we have a number of interested parties”.
The statement also thanked suppliers, customers and Gleneagles staff for their support over what it described as “the last very difficult 12 months”.
Gleneagles was one of the victims of the struggling European crystal and soda-lime glass manufacturer Slovglass Poltar, supplies from which were severely restricted earlier this year. Gleneagles sourced 40% of its product from the Slovak company.
As recently as four weeks ago, Gleneagles announced that it was taking over the retail distribution of Bormioli Rocco glassware in the UK from Chomette Dornberger.
However, yesterday’s statement went on: “This will obviously now not go ahead, although if a new home is found for Gleneagles of Edinburgh the Italian company is happy to consider future partnership.”
Paul Travis was not available today for comment.