But there is a little bit of good news Churchill China has purchased certain intangible ( nonphysical assets) and tangible (physical and measurable assets) assets from Dudson Holdings Limited and Dudson Limited (both in Administration) for a total consideration of GBP 2.1 million, funded from the Group’s existing cash resources. The purchase does not include the Dudson group operating businesses.
1.5 million of the consideration is for the Dudson brand and for intellectual property in respect of two of Dudson’s product ranges, ‘Harvest’ and ‘Evo’. Dudson is a long established manufacturer of performance vitrified ceramic tableware based in Stoke on Trent and has operated in similar markets to Churchill. Certain plant and equipment has also been purchased for GBP0.6 million.
The assets purchased are complementary to our existing strategic plan and will allow Churchill to further extend its offering of differentiated added value products.
Update 3.30pm – It has just been reported that Churchill China has bought two of Dudson’s most popular brands in a £2.1 million deal.
More than 300 jobs have been lost at the pottery firm Dudson after the company called in administrators. The company has been making tableware, glassware, and fine china in Tunstall since 1800.
The administrators told workers to take their things and leave the premises this morning.
According to the GMB union there was no consultation with staff or unions prior to the collapse – a breach of legal requirements.
Wendy Greiveson, GMB Organiser, said:
“This is another devastating blow for the potteries. It is outrageous staff were simply told the company was bust and to leave the premises with no notice whatsoever. Dudson have clearly failed in the duty to consult. As a result GMB will be pursuing a protective award on behalf of our members.”
Ross Connock and Matthew Hammond of PwC have been appointed joint administrators of both Dudson (Holdings) Limited and Dudson Limited.
The administrators said the company experienced significant cash flow pressures as a result of deterioration in sales and increased costs.
The company’s Nile Street factory shop in Stoke-on-Trent will continue to trade, while the administrators look to realise value for existing stock. 72 staff will be retained to support the closing down of the business.