ONE of Bognor’s biggest employers has gone into administration with the expected loss of more than 130 jobs.
Eurotek furniture suppliers had been one of the strongest performing companies in the area with an annual turnover of nearly £10m and attracting major national contracts.
Underlining this, the firm had opened a London showroom in anticipation of expanding its mix of corporate and public sector client base for major furnishing projects.
But according to a source close to the firm, its manager Terry Kuhler delivered an “emotional address” to shocked employees informing them on Friday morning the company was closing.
Stuart Maddison, who has been appointed joint administrator and partner at PwC, said: “The company has suffered as a result of the ongoing economic challenges facing the public sector which represented approximately half of its customer base. Due to a sharp decrease in sales, difficulties in meeting the company’s financial obligations, and having run out of alternative options, the directors of the company have placed it into administration.
“In the short term, the administrators are continuing to trade the business as a going concern while a buyer is sought.”
The company is reportedly continuing to trade under the direction of administrators until a buyer can be found.
Were you employed by Eurotek? If so ring Neill Barston on 01243 534153 or email firstname.lastname@example.org
-See this week’s Observer on sale January 20 for full story.