A Preston caravan company has entered administration with more than 140 staff currently affected.
Partners David Acland and Lila Thomas, from specialist business advisory firm FRP Advisory LLP, were today (July 16) appointed Joint Administrators of Lunar Caravans Limited, based in Lostock Hall.
The company designs and manufactures lightweight touring caravans from its production facility in Sherdley Road.
142 short-term employees were placed on temporary leave in late June with the business operating at reduced capacity.
There are 196 employees in total.
It continues to trade and there have been no redundancies at this point.
A spokesman from FRP Advisory said: "The company has faced severe cash flow issues in recent months following a period of challenging trading conditions resulting in the administration appointment.
"All production including the 2020 models was suspended prior to the appointment and the majority of production staff were laid off.
"Following appointment, the Joint Administrators are working with management and full-time employees whilst a potential sale of the business and its assets is fully explored."
Dave Acland said: "Lunar Caravans is a renowned manufacturer of lightweight touring caravans and over the past 50 years has established a reputation for innovative designs and cost-effective models that have become hugely sought after among UK holidaymakers, enjoying an enviable market position and strong brand.
"The UK staycation market remains strong and our focus is now on seeking a buyer for the business and its assets.
"We would encourage any interested parties to contact the joint administrators as soon as possible."
Interested buyers are told to contact FRP Advisory on 0161 833 3344.