Baumatic, the Reading-based appliance manufacturer, has confirmed that it is in administration.
A statement on the company's website says: “On 8 October 2013 David Dunkley and Richard Lewis of Grant Thornton UK LLP were appointed joint administrators of Baumatic Ltd and now manage the affairs, business and property of Baumatic Ltd.”
Baumatic entered the UK market in 1992 and its international HQ was in Prague. In its last set of accounts published in March 2012, it turned over £71.6m, made a pre-tax profit of £217,585
A spokesperson for the administrator has been reported saying that it was in talks with prospective buyers of the business.
This is of course a worry for the employees of the business and some contacted us yesterday. If you are worried then please refer to our help for employees pages that sets out your rights.