46 jobs axed at bed firm

ATTEMPTS to save Chadderton bedding supplier Slumbalux have failed with the loss of 46 jobs.

Administrators from Ernst and Young have been trying to sell the business as a going concern but the loss of a key contract has ruined their efforts.

Sister companies Sleepdown and Betta-Quilt, based in Newton Heath, were closed down two weeks ago.

A management team bought Sleepdown from its previous owners last October — then secured new financial backers to acquire Slumbalux.

The combined company, which supplied printed bedlinen to supermarkets and home shopping retailers, was backed with a £9 million funding line from GE Commercial Finance and a £2 million loan from Yorkshire Bank.

The combined firm employed 117 staff and, at the time of the twin deals, was aiming for an annual turnover of £25 million. The business was involved in manufacturing, wholesaling and retailing. It also had offices in China, Hong Kong and Pakistan.

Formed in 1956, Slumbalux operated out of Ram Mill, Gordon Street, Chadderton, producing continental quilts, pillows, printed bed linen, sleeping bags and tents.

The firm supplied all the major catalogues and retail bases and was recognised as a leading provider within the textile trade.

Sleepdown chief executive Peter Swift joined sales director David Lees, finance director James Hartley and supply chain director Imran Kovariwala in acquiring 100 per cent of the share capital of Slumbalux from family ownership.