Bonar Yarns Limited - administration

Bonar Yarns Limited, a Dundee carpet yarns specialist, entered administration on 31 March. Michelle Elliot and Callum Carmichael of FRP Advisory were appointed as Joint Administrators, and said that the administration was caused by unsustainable cash-flow issues, and that the business will continue trading in the short term whilst a buyer is sought. There have been no redundancies. Close Invoice Finance Limited has a registered charge against the company.