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Baby cup maker in administration | Baby cup maker in administration |
(about 6 hours later) | |
A baby cup manufacturer in Cardiff has gone into administration, making most of its workforce of 33 redundant. | A baby cup manufacturer in Cardiff has gone into administration, making most of its workforce of 33 redundant. |
Amadeus Associates International is based in Llandaff North and was once listed as Wales's fastest growing firm. | Amadeus Associates International is based in Llandaff North and was once listed as Wales's fastest growing firm. |
The business makes a range of cups and bowls for babies and toddlers and the retail downturn has been blamed. | The business makes a range of cups and bowls for babies and toddlers and the retail downturn has been blamed. |
Administrators Grant Thornton said they were "working closely with a new management team" to secure its future but 26 jobs have been lost immediately. | Administrators Grant Thornton said they were "working closely with a new management team" to secure its future but 26 jobs have been lost immediately. |
The company is best known for the Anyway Up cup, which has sold 35 million worldwide, the 360º and Cow cups and its Always Learning range. | The company is best known for the Anyway Up cup, which has sold 35 million worldwide, the 360º and Cow cups and its Always Learning range. |
'Major issue' | 'Major issue' |
It took over from founders of the business, V & A Marketing Ltd, four years ago. | It took over from founders of the business, V & A Marketing Ltd, four years ago. |
Alistair Wardell, Grant Thornton partner, said: "This company manufactures a highly regarded range of products but the retail downturn has been a major issue for the business in recent months. | Alistair Wardell, Grant Thornton partner, said: "This company manufactures a highly regarded range of products but the retail downturn has been a major issue for the business in recent months. |
"While we are in discussion with a number of interested parties, we are also appealing to possible investors to contact us immediately if they are interested in acquiring a well-established business with a number of key licensing agreements in place." | "While we are in discussion with a number of interested parties, we are also appealing to possible investors to contact us immediately if they are interested in acquiring a well-established business with a number of key licensing agreements in place." |
The administrators said the firm makes 'a highly regarded' product range | |
Only last March, the company announced plans to expand over the next three years, increasing turnover to £5m a year and nearly doubling the workforce. | Only last March, the company announced plans to expand over the next three years, increasing turnover to £5m a year and nearly doubling the workforce. |
The firm's investment and export plans, centred around its 360º cup, was being supported by the Welsh Assembly Government's investment arm Finance Wales and International Business Wales. | The firm's investment and export plans, centred around its 360º cup, was being supported by the Welsh Assembly Government's investment arm Finance Wales and International Business Wales. |
The company, making non-spill drinking cup for babies and infants, was set up in 1988 and its products were included on the Millennium Products list compiled by the Design Council. | The company, making non-spill drinking cup for babies and infants, was set up in 1988 and its products were included on the Millennium Products list compiled by the Design Council. |
It was one of the fastest growing firm in the 1990s, coming top of the Wales Fast Growth Fifty at the end of the decade. | It was one of the fastest growing firm in the 1990s, coming top of the Wales Fast Growth Fifty at the end of the decade. |
Its turnover increased by 924% in three years, with the number of workers increasing from just six to more than 100 by 1999. | Its turnover increased by 924% in three years, with the number of workers increasing from just six to more than 100 by 1999. |
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