one of the mintest factorys we have found in leicester and one we have been trying to crack for ages..:thumb
The collapse of Equity Shoes marks the end of an era for the county's once-thriving footwear industry and for the 123-year-old business.Last month, the Leicester Mercury reported that bosses were searching to find a buyer to rescue the firm from financial difficulties.
After failing to find an investor, it was announced this week that all 98 workers at the firm, in Western Road, in Leicester's West End, will be made redundant by January 20. The company will be put into voluntary liquidation.
Managers had hoped that cash generated from Equity's sale as a going concern would allow them to continue trading and make up for a "substantial" deficit in the workers' pension fund.
They blamed the company's financial problems on falling sales and competition from cheap imports, and revealed the business had debts of hundreds of thousands of pounds.
Equity, a co-operative owned by staff, is the last major shoe factory in Leicestershire. Its demise leaves a handful of much smaller manufacturers. The picture is in stark contrast to the heyday of the 1950s, when the shoe-making workforce in the county reached 170,000 and there were some 130 factories.
One worker, who asked not to be named, but who has worked at Equity for 35 years, said: "It's very sad. Many of the staff are angry. It seems there has been mistake after mistake here. A lot of them know they are not going to find a job anywhere else in the current climate."
Ray Spencer, Equity's general manager, said: "This is a very sad time for everyone at Equity Shoes. It brings to an end 123 years of the company as a footwear manufacturer in Leicester and one of the last remaining truly productive co-operatives in the country."
A timeline on the company
http://www.google.co.uk/search?q=eq...ngujBBg&oi=timeline_result&ct=title&resnum=11
was a cracking afternoon this topped off a good weekend!!
visited with little laura ,goldie, mr sam
The collapse of Equity Shoes marks the end of an era for the county's once-thriving footwear industry and for the 123-year-old business.Last month, the Leicester Mercury reported that bosses were searching to find a buyer to rescue the firm from financial difficulties.
After failing to find an investor, it was announced this week that all 98 workers at the firm, in Western Road, in Leicester's West End, will be made redundant by January 20. The company will be put into voluntary liquidation.
Managers had hoped that cash generated from Equity's sale as a going concern would allow them to continue trading and make up for a "substantial" deficit in the workers' pension fund.
They blamed the company's financial problems on falling sales and competition from cheap imports, and revealed the business had debts of hundreds of thousands of pounds.
Equity, a co-operative owned by staff, is the last major shoe factory in Leicestershire. Its demise leaves a handful of much smaller manufacturers. The picture is in stark contrast to the heyday of the 1950s, when the shoe-making workforce in the county reached 170,000 and there were some 130 factories.
One worker, who asked not to be named, but who has worked at Equity for 35 years, said: "It's very sad. Many of the staff are angry. It seems there has been mistake after mistake here. A lot of them know they are not going to find a job anywhere else in the current climate."
Ray Spencer, Equity's general manager, said: "This is a very sad time for everyone at Equity Shoes. It brings to an end 123 years of the company as a footwear manufacturer in Leicester and one of the last remaining truly productive co-operatives in the country."
A timeline on the company
http://www.google.co.uk/search?q=eq...ngujBBg&oi=timeline_result&ct=title&resnum=11
was a cracking afternoon this topped off a good weekend!!
visited with little laura ,goldie, mr sam
