Printable version
Email this to a Friend
Knotty problem for Marlow Ropes
01 Dec 2005
Fraser Gray and Peter Saville, partners at Kroll's Corporate Advisory & Restructuring Group, were appointed joint administrative receivers for Marlow Ropes Ltd and the Rope Company Ltd, as well as joint administrators to the parent company, The Rope Company Group Ltd, on November 10 2005.
The Hailsham-based group, which had a turnover last year of £20m, has factories in Mossley in Lancashire and in Coatbridge near Glasgow. It employs approximately 270 people at its three sites, has struggled due to a high debt burden and had sought to raise the necessary finance to carry out a radical restructuring of the business. Unfortunately it was not possible to avoid insolvency.
While the recreational marine side of Marlow has performed very well, it is understood the debt burden was created on the commercial side of the business.
The group continues to trade and the joint receivers say they have several interested parties.
Related products
For more information on products mentioned within this article visit
