Insolvency Practitioner

Suppoldn Nov/ 24/ 2018 | 0

Here’s the story of how Sedgwick & Co. was saved. Sedgwick & Co. is one of the UK’s oldest leather manufacturers and founded in 1900, is located in Walsall. It was founded by James and Emmanuel Sedgewick and were joined by their grandfather, Richard Farrow who was a grandfather to the managing director of The Clayton Leather Group. In 1956, the company became a multi-workshop company and expanded to exporting the leather to become global. One of the most notable assets to Sedgewick & Co. is the carriers who used hand finishing techniques.

 

In 2015, Sedgewick & Co. worked in collaboration with the Clayton Leather Group to produce hand-finished bridle leather, where it was displayed internationally at trade shows and gave the company further exposure. However, the success of the company saw an administration company take over, which ended up costing the company dearly and running it into the ground. In a £1.5m investment and consortium, three family-owned companies have purchased the leather company to save it from closing. The consortium saved 60 percent of the jobs at the leather company.

 

The three companies, Abbey England, located in Knutsford and is a saddlery and equestrian marketing company, Kilger, a German tannery which supplied Sedgwick & Co. its leather for over twenty years, and Crawford Hide Company, a skin-processing company that is based in the UK and Northern Ireland, have all worked together in conglomeration to buy out the administration and save the company, avoiding the need for a company closing through insolvency practitioners‌.

 

Sedgwick & Co. worked in tandem with a parent group called Clayton and after FPR Advisory took over running the factory in Pleck, the company was run into the ground by administrators who laid off over half the staff and blamed poor trading conditions and poor exchange rates as the reason for the company’s collapse.

 

Customers Sedgwick & Co. has served
Sedgwick and Co.’s most prestigious customer is Aston Martin, and the leather manufacturer has been in business with Aston Martin for over forty years. A spokesperson for Abbey England and the managing director has indicated that the remaining employees of Sedgwick and Co. are working to fulfill a major order for Japan, and the three consortium companies have plans to further advance and develop the company even more.

 

Phil Bevington and Mark Abraham, the works manager and production manager respectively, will work to take over the company later in November and will save the three family-owned companies from having to outsource to alternative leather suppliers. With such a prestigious reputation that Sedgewick & Co upholds, with customers as reputable as Aston Martin, and visitations from the royal family, HRH Princess Anne, as well as working in conglomeration with The Clayton Leather Group, which now showcases the fine handiwork of the Sedgewick & Co. hand-finished leather products.

 

The three companies, Abbey England, Kilger, and the Crawford Hide Company are pleased to keep a long-standing company such as Sedgewick & Co. as a major English leather distributor in business. With the prospect of moving into the fashion industry, the companies are keen to promote the UK based companies name and brand, as the leather makes its debut into the leather fashion bag industry. Sedgewick & Co. has been granted a reprieve from its financial crisis, as the three companies have banded together to save it from collapse, and continue to promote its good name and reputation.

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