Partner Article

Burrell hopeful of recovery

Building supplier James Burrell said it was confident of a return to the black after reporting an annual loss of close to £400,000.

The Gateshead firm, which employs 160 people, reported turnover of £32.5m in the year to October 2009, compared to £43m in 2008.

Losses for the year stood at £391,746, due in part to bad debts of £508,000 related to credit insurance being withdrawn on some customers.

The company said: “The directors are confident that, with the continued support of our bank [and] the excellent relationships we have with both customers and suppliers we will continue to move forward as a company and return to a profitable position.

“We have also positioned ourselves well to make full use of the slight improvements we are now seeing in the market and to make the most of the opportunities that will present themselves with an upturn in the construction industry.”

The firm, which reduced its workforce by 10 between October 2008 and 2009 said it did not envisage any significant job creation in the months ahead.

The company was established in 1877 by the Richardson family which today makes up the majority of the board of directors.

It supplies building materials between South Yorkshire and the Scottish Borders.

This was posted in Bdaily's Members' News section by Ruth Mitchell .