Administrators for collapsed fairtrade pioneer Traidcraft are seeking a buyer for the company's assets, including its Team Valley premises.
Begbies Traynor was appointed to the loss-making Gateshead firm, which had struggled to recover from the pandemic as it faced a number of cost pressures and the impact of strikes. All 40 of the firm's staff are now confirmed to have lost their jobs in a move that Traidcraft directors described as "heartbreaking".
Now, administrators managing the closure of the company - which is owned by nearly 5,000 shareholders - say its 100,000 sqft warehouse on Kingsway North, Team Valley, is available to potential buyers. As recently as last year the building was being used provide third-party companies with storage and fulfilment facilities and Traidcraft's pension fund trustees acquired a second charge over the property, meaning they would receive any proceeds from a sale after lenders HSBC.
