Housewares Business-to-business magazine for housewares retailers and their suppliers
Coolskin gloves supplier Lanco Teksolve is looking for a buyer after suffering financial difficulties in the economic downturn.
Owner John Cooper has been unable to secure the funds needed to bail the company out. He said that banks were “not so inclined to help you if you tell them you have a shortage of money”.
Cooper explained that Lanco Teksolve mis-priced an order before Christmas and, as a result, has not received the money needed to meet targets.
The company is still trading and has enough stock to fulfil orders coming in. However, it still needs extra financial support.
Cooper said he has looked into winding down the business but would prefer to find a buyer. Several interested parties have been in contact, although Cooper believes only one is a viable option.
“I’ve been trying to think of who we could notify that could do some good,” he said. “But everyone’s saying the same thing: ‘We’re sorry to hear that and, if you sort something out, we’d still be interested in talking about payments in the future’. Trouble is, they’ve all got their own problems to worry about.”
Coolskin is a range of flexible heat-proof gloves that provide protection from up to 500 deg C of dry contact heat.
Interested parties should contact John Cooper at Lanco Teksolve on 01438 312400.
