Jobs under threat after collapse of Dundee firm Bonar Yarns
- Published
Bonar Yarns produces a range of backing yarns
More than 60 jobs are at risk in Dundee following the collapse of a specialist yarn manufacturer.
Administrators were called in to Bonar Yarns after the firm was hit by cash flow difficulties.
FRP Advisory said Bonar would continue trading "in the short term" while a buyer is sought. There have been no redundancies.
The firm, which was founded more than 100 years ago, specialises in polypropylene carpet backing yarns.
It covers a range of markets, including sustainable flooring and artificial sports turf.
The company, which is based at the Caldrum Works, was acquired by a management buyout team in 2020.
It has a turnover of about £6.5m and employs 61 staff.
Joint administrator Michelle Elliott said: "Bonar Yarns Limited can trace its history back to the foundation in 1903 of the famous Low & Bonar business that specialised in the manufacture of technical textiles.
"We will continue to trade the business in the short term whilst marketing the business and assets for sale with immediate effect, and would urge interested parties to contact us as soon as possible."