Swindon & Wiltshire News
Struggling 150-year-old Wiltshire manufacturer tries to stay afloat
Trowbridge-based bed and upholstery maker Airsprung is facing a possible administration process after filing a notice of intention to appoint administrators.
The move does not mean the company has gone into administration yet, but it does indicate that directors are under pressure to find a rescue solution quickly.
In a statement, the company said it had been hit by “financial challenges due to prolonged difficult trading conditions and a notable pension scheme deficit.”
It added that it was “evaluating all available options” as it confronted what it described as a “short-term liquidity crisis.”
The filing gives the business a brief period to try to stabilise its finances and explore ways to keep operating.
Directors said they were “collaborating with key stakeholders to identify options that could help preserve the company,” while reports also described the move as a “challenging decision” taken against a backdrop of “substantial pressures” on the sector.
The company has said the notice provides “some breathing room” as those discussions continue.
Airsprung has been part of British manufacturing for more than 150 years and remains closely associated with Trowbridge.
Its potential collapse would be a significant blow to the town, where the firm has long been one of the better-known industrial names.
Airsprung was once one of the biggest employers in Trowbridge. Today, around 300 people work at the factory.
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