A TEXTILE SMASH.
j BIG COMPANY'S FAILURE. 1 LONDON", August 28. ' A sensation has been caused in the heavy woollen trade by an announcement issued by the Fenton Textile Association. Ltd., of Batley, Bewsbury, and Leeds, that owing ti> the. recent extraordinary fall in stock value?, the consequent restriction of credit facilities, and • the general abnormal state of the textile' trade, the firm lias been reluctantly compelled to apply to the High Court for ' the appointment of a receiver. The linn is one of the most important wool textile concerns. It ivas turned - into a company in 1010.. and acquired a number- of old-established businesses. . Its capital is £2,000,000, of winch Mr. Henry Fenton, chairman, holds £1,000,000 —practically the whole of the issued capital. The firm's solicitors state that, with the goodwill and co-operation of the i directors, they are of opinion that credi- ; tors, both secured and unsecured, will : not sustain any loss. — (A. and X.5J.)
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Bibliographic details
Auckland Star, Volume LII, Issue 205, 29 August 1921, Page 5
Word Count
157A TEXTILE SMASH. Auckland Star, Volume LII, Issue 205, 29 August 1921, Page 5
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