A North East manufacturer has entered administration, resulting in the loss of dozens of jobs.
All 56 employees at Bridgman IBC, a long-standing fire and safety door manufacturer based in Hartlepool, were made redundant after the company entered administration.
The firm, which operated from the Longhill Industrial Estate, experienced significant cashflow difficulties.
Ian Royle and Bob Maxwell of BTG were appointed joint administrators on Friday, March 6.
Mr Royle said: "Despite a strong effort by the directors to increase sales over the past 18 months, which resulted in a full order book, the business faced insurmountable cashflow pressures.
"Ultimately, it was unable to fund the raw materials required to continue production, and an accelerated effort to sell the business as a going concern in recent weeks was unsuccessful.
"Sadly, all 56 employees, many of whom had long service with the company, have been made redundant, and we are supporting them through the process."
Established in the 1960s, Bridgman IBC was known for manufacturing bespoke, high-quality fire-rated and safety doors used in public buildings such as hospitals, universities, and schools.
Clients included the NHS, Newcastle University, Cineworld, Hilton, and McDonald’s.
The company’s assets include an 88,000 sq ft factory and a range of advanced wood and metalworking machinery.
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Mr Royle said: "Our priority is now to support the employees and also to maximise returns for creditors, and we are now seeking buyers for the company’s assets.
"We have already received strong interest in what is a well-equipped manufacturing facility with high-specification machinery."
Bridgman IBC operated for more than 50 years and built a reputation for quality in the manufacture of specialist doors.
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