JT Frith goes into administration

BOSSES at well-known local firm JT Frith Limited say it is business as usual after it entered voluntary administration.

Shareholders decided administration was the best option after the company –– which has a branch on the Old Mill Lane Industrial Estate –– accumulated high levels of debt.

The company, which is primarily based in Tuxford, made the administration orders in the High Court of Justice on 23rd May.

A spokesman told Chad: "Shareholders made the decision to go into administration as a way of financially restructuring the company and putting it in a stronger financial footing.

"It was a way of protecting people's jobs and the company. Employees and customers will not notice any difference as we will go on operating as normal."

JT Frith, which sells a range of household products, electrical goods, garden products, gifts and toys, has seen a number of management changes in recent years.

In 2004, Graphite Capital backed a management buy-in/buy-out from Warsop businessman John Fretwell –– who founded JT Frith in the 1970s.

Now the company has moved to assure retailers that its nine depots will continue to trade as normal and that jobs will remain secure.