Coty factory up for sale ahead of planned October closure date

Coty factory up for sale ahead of planned October closure date

Coty’s UK Seaton Delaval factory is up for sale ahead of the planned closure date of October, 2018, with some 400 jobs set to be lost should no buyers come forward.

The planned closure was announced last year following a business review by Coty after its acquisition of Procter & Gamble’s beauty division in 2016, with many agencies, including Arch, the North East England Chamber of Commerce and Northumberland County Council, having come together to support employees and look towards a sustainable future for the site and the local supply chain.

Real estate agent Colliers International is now listing the site for sale and is hoping to attract a buyer that will ‘position the site for future employment use.’

According to Simon Hill, Associate Director, Industrial & Logistics for Colliers International in the North East of England, “The Coty factory has been a major employer for the Seaton Delaval area for a number of years and as such the closure will have a significant impact on the community as a whole.
“We have been instructed to seek a buyer for the site which can bring employment opportunities back to the area.
“The sale offers a unique opportunity for a purchaser to acquire a high-quality property that is suitable for a wide variety of uses, in particular manufacturing and distribution. We look forward to speaking to potential purchasers.”

Richard Wearmouth, Cabinet Member for economic development at Northumberland County Council, spoke on behalf of Coty and said, “We appreciate that this is a difficult time for staff but hope that the support package from Coty, combined with wider assistance through partners on the group, will ensure that they have the best possible opportunities available for the future. Like Coty themselves, we want to see suitable outcomes for all staff.
“We are also working with the company as it moves towards sale of the site – with the aim of securing a suitable and economically advantageous use for the future. We want to see new jobs created here for a local workforce.”

Leave a reply

Your email address will not be published. Required fields are marked *