Bournemouth-based supplier Red Rose Cookware ceased trading this week.
According to an unconfirmed report the company got into severe financial trouble and will enter into formal liquidation within two to three weeks.
A former employee of Red Rose, who did not wish to be named, told HousewaresLive.net that the company stopped doing business on Tuesday. He said that he and the firm’s other seven employees had made been redundant, and that he had been paid only to the end of January.
He said that managing director Paul Threse had advised him in a letter that owing to “severe financial difficulties the company must cease to trade”.
HousewaresLive.net understands that the company had been experiencing cash flow problems, which led to its being unable to retrieve stock from the port.
Red Rose Cookware was a family firm started over 30 years ago by Paul Threse’s father. It supplied a wide range of non-stick, enamel, stainless steel and aluminium cookware, along with bins and storageware.
Paul Threse was unavailable for comment.