Deloitte: Directors had 'no alternative' but to place firm in administration
published at 14:40 British Summer Time 30 March 2017
Business advisors Deloitte say despite a measures to expand operations, Anton Group's directors eventually had "no alternative" but to wind up the firm.
This morning it was announced that more than 100 people have lost their jobs.
In a statement, Deloitte said: "The business has been struggling financially in recent months as a result of declining sales, a high cost base in need of restructure and an acquisition of a business called Merchandise 365 last year in an attempt to expand operations which has instead incurred further losses.
"The business has been seeking further investment to support ongoing trading, however, this was unsuccessful and therefore the directors had no alternative but to place the company into administration.
"The group will now be placed into an orderly wind-down, while talks are ongoing with potential buyers for the contracts and assets of the Group."