UK: Decision On The Future Of Lantor Weaving Delayed
An announcement on the future of a weaving company that has been threatened with closure for the last four months has been delayed.The IPT Group had planned to issue a statement today about Lantor Weaving, which is based at Standish in Lancashire. Lantor Weaving was one of two companies warned in May that it faced the possibility of closure. The other company is Carrington Performance Fabrics, which is based at Dewsbury in West Yorkshire. Since then, IPT has been working to find a potential buyer for the businesses, which produce fabrics for the apparel, sports and leisure industries. A total of 226 people are employed at the two factories.IPT is still talking to a potential buyer for Carrington Performance Fabrics, but the group says there is now little prospect of Lantor Weaving being sold. An announcement on the company's future has been delayed for two to three weeks. IPT finance director Douglas Waddell, however, said that there was still no reason for optimism.
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