An industrial hose company in South Staffordshire has gone into administration and shut down with the loss of about 60 jobs, it was announced today.
BMI Hose had run into funding problems and is closing its eight UK service centres, including its 24,000 sq ft headquarters and call centre on Hilton Cross Business Park, in Featherstone.
Another at Navigation Point in Tipton will also close.
Administrators from the Birmingham office of Grant Thornton have been appointed to oversee the collapsed business. It is understood they are rehiring a small team of former staff to assist them in the administration work.
The company’s chairman and founder, Shropshire entrepreneur Simon Moxham, today blamed a lack of lending and difficult trading conditions for the collapse.
Mr Moxham, who briefly found fame last year when he proposed on BBC Radio’s Chris Evans Show, said he had lost £2.8million as a result of the collapse.
He added: “It’s very sad.”