Jobs Lost With Closure Of Market Harborough Firm

Jobs have been lost with the closure of a Market Harborough firm.

All 18 employees at Quantum 4 and its sister company Quantum 4 International have been made redundant, after administrators were unable to find a buyer for the company, which designed and manufactured display equipment for supermarkets and well-known retailers.

Opus Restructuring were appointed in September after the firm fell into financial difficulties following a drop in orders, caused by retailers cutting back with in-store development plans, as a result of the pandemic and cost of living crisis.

The companies had total debts of £2.5m.

A report by the administrators says a management-buyout had been proposed, but a deal could not be reached.

Administrator, Louise Williams of Opus said: “The demise of this previously successful retail display specialist is another illustration of how difficult conditions are right now for any business operating in this consumer-facing sector, where the pressures on customer budgets are forcing many retailers to think carefully about their investment plans and scale back their commitments to suppliers like Quantum 4.”

The company, which was based at The Point Business Park, had been trading for 23 years.