More East Yorkshire businesses closing

Published: Thursday 3rd March 2016 by KCFM

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There’s been a rise in the number of East Yorkshire businesses going into liquidation. Hull company Sea-Land Floorings is the latest to close.

Most people assume it’s a sign that our economy is struggling, but Paul Cooper, Director at Asset Management, says it’s possibly good news for the area: “Firms going into liquidation is quite often a sign that economy is starting to pick up in the area. So for example some new companies may enter the market, so the old guard starts to struggle or new businesses start up and don’t get their business model right first time and end up closing within the first two or three years.”

“People don’t feel keen to purchase businesses that are already existing to try and take them forward. That’s been the situation at Sea-Land, where staff as a whole weren’t prepared to take the business on and as a consequence because of the director’s retirement,  the company has sadly had to close.”

KCFM

Published: Thursday 3rd March 2016 by KCFM

Comments (1)
  • John E Pallister BA

    And the shitty of culture strike again….how many more peolpe will bite the dust becuase of these continious liquidations, and, be the latest job seekers to join the roll of honour.

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