Courtaulds Ltd is once again making headlines as Derbyshire MP Pauline Latham reveals she has been told the business, which recently went into administration, was ‘asset stripped’ before the announcement. Local news website Belper News was the first to report that the owners of Courtaulds transferred the company’s best assets into other holding companies, leaving only limited assets available for the administrators.
Mrs Latham has also spoken to the Rt. Hon Sajid Javid MP, Secretary of State for Business, Innovation and Skills asking what support the Government is able to offer to any potential buyers: “Everyone in the local community would like to see a responsible sale of Courtaulds which would allow employees to keep their jobs and not just the sale of an empty building. I have asked the Secretary of State to help and I hope the administrators will realise that the company has so much potential and could be sold.”