Slump in turnover led to Five Towns failure

Reduced turnover and the trend for optical practitioners to use manufacturer-owned prescription labs has been blamed for the failure of Five Towns Optical.

Five Towns Optical stopped trading earlier this year (News 11.02.11) and entered voluntary liquidation on February 9 according to Steve Lancaster, insolvency administrator with Moore Stephens.

Five Towns had two manufacturing bases in Stoke-on-Trent and operated primarily as a glazing laboratory. Its turnover was in the region of £750,000 and the company's workforce of 11 was made redundant as a result of the firm's failure. No part of the business will continue trading.

The assets of the company are to be sold by online auction by Butters John Bee and its website has a large range of optical lens manufacturing equipment for sale listed in one of its current auctions.