cheap knitting machines
Textiles - a sector in decline
The Textiles sector of the economy has taken a real hit in recent years. Cities such as Leicester and Bradford have suffered great manufacturing losses since cheap imports can be shipped in for pence per garment.
Around these cities you can routinely see flats filling our buildings which used to him with the sound of spinning machines. 100's of small factories have shut in the last decade as companies such as Marks and Spencers and the supermarkets like Asda and Tesco strive to put cheap clothes on their shelves. These behemoths with their buying power can source garments for a few pence. These products cannot be produced in the UK with it's high wages for these sums and so new purpose built factories employing thousands of people have sprung up in Bangladesh.
As well as spinning companies closing, there is the knock on effect meaning that less cloth needs dying and so the dye houses, die. The cut make and trim operation also cease, meaning overlockers have to find alternative employment.
Leicester used to have a very vibrant machine tool business and knitting machine service sector, but obviously as the need for these machines as fallen away so the importers and servicers of these machines, have had to shut their businesses.
Many of these business will have chosen the Creditors Voluntary Liquidation route, as a cheap and easy method to cease to trade. The company can proceed from its initial resolution, to a meeting of creditors within just three weeks.
Some businesses do emerge from the old, convinced that there is still money to be made, maybe from producing higher quality garments.
The key though with any struggling business in any sector is to take steps to get advice early. The earlier the better.
About the Author
Information provided by Steve Thatcher of Help With Debt (UK) Limited and total debt solutions company.
For all further reading see http://www.helpwithdebtuk.com for personal contact email sthatcher@helpwithdebtuk.com for a discussion on what to do with your textiles business.
For Steve's thoughts see http://steves-debt.blogspot.com
Finally if in the UK and you need a friend to speak to call 01162171406
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