Thomas Bolton Ltd — a 200-year-old company employing 110 people at its factory in Froghall, near Cheadle — has called in the Zolfo Cooper insolvency firm after experiencing “short-term cash-flow difficulties”.
The supplier of copper wire to the electrical market is continuing to trade while the administrators market it as a going concern.
Graham Wild, a partner at Zolfo Cooper, said: “We believe the company is an attractive proposition to a range of potential buyers, given its expertise and excellent product range. We welcome expressions of interest from third parties to acquire the business as a going concern.”
Thomas Bolton started life as a business producing buckles in the 19th century before evolving into one of the world’s leading electrical-wire manufacturers.
The company has been involved in a number of major projects, such as the first trans-Atlantic telephone cable and the cabling for the 2008 Beijing Olympics.
Linda Malyon, a Staffordshire Moorlands district councillor who used to work at Thomas Bolton, said: “At its peak, it was the major employer in the area, employing around 1,600 people. I think every family around here would have some connection to Thomas Bolton.”