David Ross outlines workwear future
A FORMER Cosalt company that kits out the emergency services can now stop the internal firefighting caused by the crisis within the beleaguered parent group, and put the customers first.
That is the assessment from David Ross, who as chairman of the 140-year-old Grimsby headquartered business had to call in the administrators, as funds ran out and debts spiralled.
Now he is back at the helm of the workwear arm, Ballyclare Ltd, having had his offer for it accepted.
Operating out of Barnsley and Stockport, it employs 58 people. It also has distribution centres in the South East, and supplies rail industry giants including Network Rail, Tube Lines and Babcock Rail, as well as several fire brigades.
Mr Ross said: "I am glad I have been able to deliver on part of my liabilities to the creditors and pension fund by buying the business. What is critical is being able to salvage jobs.
"We hope we can now focus on putting our customers first. This is a platform to build a strong and resilient business."
Ensuring the financial footings are right from the start has been key, with cash flow having been severely impinged by the group's financial woes.
"The important thing is there is no business debt going forward, it is in a much better place to work with customers than it was previously," said Mr Ross. "It will be run debt-free as of now. Historically the company was firefighting here, there and everywhere, it couldn't move forward as the cash was all being absorbed by the group, and the debts there.
"We are now in a position where we can consolidate what we have got and build the business going forward."
As reported, the offshore division was bought out by a third party.