Chiltern Invadex in Administration

Story taken from Bicester Advertiser

THE future is uncertain for Bicester company Chiltern Invadex which has been taken into administration.

So far 55 staff have been made redundant at the firm, based in Wedgwood Road, and 120 workers are left.

Administrators KPMG are looking to sell the business, which supplies products designed to aid mobility and independence for the elderly and less able, as a going concern.

Richard Griffiths, KPMG spokesman said: "We continue to trade, and are talking to a number of interested parties. We are hoping to conclude a sale."

The company has an annual turnover of £14m.

Administrator Allan Graham said: "Difficult trading conditions, along with cashflow problems, have left the directors with no alternative but to place Chiltern Invadex into administration.

"We will now continue to trade the business and are looking to sell it as a going concern. We would be keen to hear from any parties interested in acquiring the business."