Plastribution to close LJ Specialities
Leading polymer distributor, Plastribution, has announced that it is to exit the textiles segment of its business by end March 2019.
The move is due to the closure of its LJ Specialities business, which supplies pigments, dyestuffs and speciality chemicals both in the UK and overseas. It is anticipated that LJ Specialities will cease trading by end December 2018.
Only customers currently supplied by LJ Specialities are affected, with Plastribution’s other businesses – thermoplastics, Plasfilms and Plascoatings continue to trade as normal.
The decision to close LJ Specialities was made after careful consideration of the historic performance of the business and, in particular, its future prospects. As a contributing factor to its future viability, the constraints of REACh legislation have impacted the firm’s ability to trade successfully.
Plastribution is now in consultation with LJ Specialities’ employees regarding the potential impact of the closure, as well as working closely with suppliers, customers and agents to ensure a smooth transition as the winding-down process takes place.
Plastribution’s managing director, Mike Boswell, said: “It has been a difficult decision to close the LJ Specialities business and not one that has been taken lightly. It is important that Plastribution concentrates its resources in the business activities that have a viable future.”