Liquidators in at Vaile
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by Steve Banner • Troubled Dorset bodybuilder Vaile & Co has opted for a creditors' voluntary liquidation on the advice of Coopers & Lybrand. Notices have been issued to creditors, says chief executive Jeremy Thompson, and a meeting will be held in due course. Fifty-five of Vaile's 85 employees were laid off at the start of this week.
Thompson is hoping to sell the Hazelbury Bryanbased company, which produces about 1,000 bodies a year, as a going concern. He says he has already had three or four approaches.
Thompson blames waferthin profit margins and a drying-up of chassis deliveries during August for the firm's difficulties. If chassis are not delivered on time, then they cannot be bodied, and customers cannot be billed.
It's been a real struggle for the past couple of years," he admits. "Profits are far better in other sectors of industry than they are in transport".