A receiver has been appointed to try to salvage a specialist Armagh textile company which has supplied fabrics to international designers, Hollywood stars and leading hotels, it was announced today.
Production at Glenanne Jacquards has been suspended and its 15 employees sent home after it got into severe financial and trading difficulties.
Mr Garth Calow, a business recovery partner at PricewaterhouseCoopers in Belfast, has been appointed Administrative Receiver to the company.
Mr Calow said today: "Despite the difficulties prior to our appointment, this is a specialist business with niche markets worldwide.
"Our immediate priority is to establish Glenanne's financial position and to determine what might be salvaged."
His task will be to see if he can sell the company as a going concern.
Glenanne has supplied fabrics to leading international designers and provided interior fabric for the Los Angeles home of actress Jane Fonda.
Fabrics have also gone to five star hotels such as the Savoy and Dorchester in London and the MGM in Las Vegas.
The benches of the French National Assembly in Paris are also covered in fabric from Glenanne Jacquards.