TITLE

High costs sink yarn producer Richards

PUB. DATE
November 2004
SOURCE
Cabinet Maker;11/26/2004, Issue 5416, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that upholstery and carpet yarn producer Richards Group Inc. of Aberdeen has gone into liquidation, less than two years after it was bought out of receivership. The collapse has cost its owner Ian Suttie several millions of pounds after he called in liquidators. Suttie still owns the firm's former city centre site, which could be worth millions if planning permission were given for redevelopment. Richards Group Inc. had been producing yarn in the city for more than 200 years. Frank Doran, Member of Parliament for Aberdeen Central said Suttie had been considering increasing wage levels before the firm's collapse.
ACCESSION #
15262795

 

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