Jobs blow at fishing tackle firm (From Wiltshire Times)

Jobs blow at fishing tackle firm

9:31am Friday 6th October 2006 in News By Charley Morgan

A FISHING tackle manufacturer based in Warminster for more than 20 years has closed, making 15 staff redundant.

Keenets made a wide range of fishing equipment, which it sold and distributed to stores across the country, including retail giant Argos and specialist fishing shops.

At its peak about 30 people were employed at its warehouse on the Woodcock Industrial Estate.

It was taken over from its original owners about five years ago but the new owner ran up massive debts - thought to have run into several million at one point.

Keenets went into receivership on July 13 and administrators KPMG in Bristol sold the business to Speyside Angling Supplies Ltd on July 27. Birmingham-based Speyside bought the business and all the assets and employees transferred across to the new firm. But this week, Speyside decided to close the Warminster business and continue operations in Birmingham only.

Craig Treharne, the new managing director, said: "The operational facilities of the operation in Warminster were poor and to ensure the future of the business, the staff and the brands we had to make a decision to move the business to a logistics centre in Birmingham. Fifteen jobs were lost in Warminster.

"Many key staff have been retained and are now working out of Birmingham and helping to ensure the long-term viability of the brands."

A spokesman for KPMG said Keenets had amassed hefty debts before being taken over by Speyside.

She said: "They had been generating losses for a number of years and their bank borrowings could not be repaid, hence why they had to go into administration."

Tim Trounsen, of Warminster Chamber of Commerce, said: "We feel very sad that any employer of people in Warminster should have to move out."