MICHELLE Elliot and Callum Carmichael, partners with FRP Advisory, have been appointed joint administrators of Bonar Yarns, the Dundee-based manufacturer of specialist polypropylene carpet backing yarns.

Founded more than 100 years ago, Bonar Yarns produces a range of advanced backing yarns used across the world in various environments and sectors. The range of products includes flame retardant yarns for the travel flooring market, UV-stabilised yarns for the outdoor flooring market and yarns made from recycled polypropylene for the fast-growing sustainable flooring market and the artificial sports turf market.

The company, which is based at the Caldrum Works in Dundee, was acquired by a management buyout team in 2020. It has a turnover of around £6.5m and employs 61 staff. The administration was caused by unsustainable cashflow issues. The business will continue trading in the short term while the joint administrators search for a buyer. There have been no redundancies.

Commenting, joint administrator Michelle Elliott said: ‘Bonar Yarns can trace its history back to the foundation in 1903 of the famous Low & Bonar business that specialised in the manufacture of technical textiles.

‘Following a management buyout, the business focused on developing and marketing innovative yarns for various different floorcovering and artificial sports turf markets. We’ll continue to trade the business in the short term while marketing the business and assets for sale with immediate effect and would urge interested parties to contact us as soon as possible.

‘Bonar Yarns is highly regarded for its excellence in carpet yarns innovation, so we’re hopeful that the business will be of interest to a company already operating in the broad coverings market or an entrepreneur keen to enter the market by acquiring an established brand.’
bonar.yarns@frpadvisory.com