Kidderminster-based TP Activity Toys has called in business recovery firm Geoffrey Martin. The business is a supplier of trampolines and climbing frames for retailers including Tesco, John Lewis and Early Learning Centre.
Around 100 jobs are at risk of redundancy but the administrator hopes to sell the business as a going concern and said “every effort” will be made to fulfil orders for Christmas. It has urged any customers awaiting deliveries to get in touch.
The company has been making toys for children for more than 50 years, generating turnover of more than £12 million this year.
Inspired by the hula hoop craze in 1959, TP’s founders used semi-rigid plastic tubing which they made into hoops at home, selling them from their cars and making a profit of £200.
Managing director Chris Martyn-Smith said: “It is a very sad day and the directors want to thank the many employees who have been such an important part of building the business over the last 50 years.”
The administration does not include Muddy Puddles, a subsidiary of TP, that supplies children’s outdoor clothing.
A spokesman for Geoffrey Martin said the company’s financial difficulties stemmed from increasing overheads and its inability to carry out a refinancing.