All jobs lost as furniture firm forced to close

A bespoke furniture company has been put into administration with all 117 staff members made redundant.

Thursday, 21st February 2019, 3:29 pm
Updated Thursday, 21st February 2019, 4:32 pm
The companys headquarters.

YTM Group ceased trading on February 14, with the company blaming increasing competition, as well as the loss of a major contract in December.

This led to severe cashflow problems and made the firm financially unviable.

Lee Lockwood from joint administrators Begbies Traynor said: “It’s really sad to see the demise of a business which has traded for almost 40 years, along with so many jobs.

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Administrator: Lee Lockwood of Begbies Traynor.

“Unfortunately, by the time we became involved, the company’s financial problems were simply too advanced and, due to time pressures, selling it as a going concern was not an option.

“We are now doing all we can to achieve the best possible return for creditors.”

Founded in 1981, the business operated sites in Castleford and Pontefract, including and was a market-leading contract furniture manufacturer serving the care, hotel and education sectors. 

Coun Denise Jeffery, Wakefield Council’s cabinet member for economic growth and regeneration, said: “It is very sad to see that a company which has operated for so many years in the area has ceased trading.

“I am sure YTM Group will be missed by their customers and the residents of Castleford and Pontefract.”

Meanwhile, KP Snacks has announced it plans to open a popcorn factory in Pontefract, bringing with it 30 jobs.

Under the proposal, Barnsley’s Largo Foods UK factory would be closed, and all production relocated to the Butterkist factory on Ferrybridge Lane, Pontefract.

KP Snacks bought Butterkist in 2017.

Mark Duffy, manufacturing director at KP Snacks, said: “KP’s Butterkist factory in Pontefract is a large, modern, cost-effective self-contained unit.”

The company said that merging the two sites would be the cost-effective option.