RD Industries in administration
Buyers are being sought for Plymouth based stationery manufacturer RD Industries, which, according to local news site, This is Devon, has gone into administration with the potential loss of 75 jobs.
According to the site, Roger Dymond, boss of the 30 year old business, has blamed the banks and said his firm's inability to borrow £500,000 of "working capital" pitched it into crisis. Finance is still urgently being sought to bring the company out of administration and provide the capital needed to continue.
RD Industries is a family-run firm providing stationery for chain store and supermarket own-brand ranges.
It exports to 22 countries and had an annual turnover of up to £7 million, with £2 million spent on machinery since 2005. (Source: This is Devon)
26-Jul-2010
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