Swirl Products, the owner of brands including Head Funk, Nuage, Salon Chic, Systeme and Active Handwash, has gone into administration.
The company, which trades as fmcg and is based in Oldham in Manchester, UK, recently suffered an acute shortfall in cash-flow following the sale of its shares to Lancashire-based Statestrong Products in September. The company sought administration and has since been continuing to trade while joint administrators Russell Cash and Ben Woolwich, partners at FRP Advisory, focus on securing a sale.
Statestrong, a company that trades across sectors including health and beauty, household and automotive, also entered administration earlier this month. Statestrong suffered reduced cash-flow after its working capital facilities were exhausted following rapid expansion.
Cash said: "There is already interest in fmcg; this comes as no surprise as the business commands a leading presence in branded personal and household care products for the discounters, supermarkets and pharmacy chains. We have retained all of fmcg's nine staff who bring with them years of experience in a very well run business with a robust operational performance and an array of long-standing loyal customers. The administration is a necessary process to allow fmcg to continue to trade, ring-fenced from the problems created by Statestrong. The interest we have received means we are hopeful of achieving a sale of the business in the short term."
