Supplier of Coolskin Oven Gloves looks for a buyer, as it becomes the latest victim of the downturn.
Lanco Teksolve, supplier of Coolskin gloves, is currently looking for a buyer after suffering financial difficulties in the economic downturn.
Owner John Cooper has approached the banks but was unable to secure the funds needed to bail the company out. "They're not so inclined to help you if you tell them you have a shortage of money."
Mr 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 the orders that are coming in, however, it remains in dire need of extra financial support
Mr Cooper has looked into winding down the business and has contacted customs and excise, however, he feels that finding a buyer would be the ideal scenario. Several interested parties have been in contact, although Mr Cooper told DIY Week that only one appears a viable option so far.
"I've been trying to think of who we could notify that could do some good", explained Mr Cooper. "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°C of dry contact heat.
Interested parties should contact John Cooper at Lanco Teksolve on 01438 312400.