Hilden Manufacturing was formed in 1874 by the descendants of James Hargreaves, the inventor of the Spinning Jenny. The firm moved its weaving, bleaching and dyeing operations to Egypt in 2004. Its sales, design and administration base is at Clifton Mill and the warehouse and distribution centre at Woodnook Mill. Hilden Manufacturing also has a base in Manchester.
Hilden Manufacturing is run by a main board of directors at the Hilden Enfield Holdings group, which also has Oswaldtwistle Mills tourist attraction under its umbrella.
Joint administrator Tom Jack said: "We are grateful for the continued support of the company's customers, suppliers and employees as we assess the situation at this early stage.
“We are already aware of strong interest in the company as we explore a sale of the business and assets as a going concern."
The Lancashire Telegraph quoted Boyd Hargreaves, MD of Oswaldtwistle Mills, as saying that the problems at Hilden Manufacturing would have no effect on the shopping and tourist attraction. He told the Telegraph: “The company is very hopeful a new buyer will come quickly and safeguard all the jobs at Hilden Manufacturing."
