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| Company type | Public |
|---|---|
| Industry | Textiles |
| Founded | 1962 (1962) |
Richards of Aberdeen was a textile company based in the Hutcheon Street area of Aberdeen, Scotland.
==History==The company that became Richards had its origins in the early 19th century. It was founded by John Maberly. He brought in new finance with John Baker Richards as a partner, in 1825, trading as Maberly & Co. James William Freshfield and Robert Langford became involved as property trustees, in 1829.
Maberly during the 1820s introduced steam power in the linen factories; but ran into trouble in financial operations. He was in the end bankrupted by 1832. Others brought into the firm included William Leader (died 1828), to whose son John Temple Leader debts owed by Maberly passed. The name of the firm became Richards & Co. from 1831, and that year Lancelot Holland became involved.
Henry Lancelot Holland (1808–1893) joined Richards & Co. in 1837. He became one of the partners, with his father Lancelot Holland, John Temple Leader, George Edwards and others. He was later head of the company.
At its height, Richard had its Broadford Works in Aberdeen; also spinning and power looms at Montrose, and bleachfields at Rubislaw and Craigo. Broadford Works was the oldest iron-frame mill in Scotland, and in the end the last remaining textile mill in Aberdeen. It was also one of the principal employers there with more than 3,000 people working in the mill in the early 20th century.
Richards of Aberdeen became a public limited company in 1898. With the decline in traditional flax spinning activities, in the mid-1960s the company embarked upon a programme of development of synthetic yarn ranges which it maintained with few changes until the 21st century.
2004 closure
Richards was purchased in 2002 by Ian Suttie, chief executive of First Oil, while facing receivership. In 2003 the company moved its headquarters to the outskirts of Aberdeen, with assistance from Aberdeen City Council.
Fifty-two job losses were announced at the start of November 2004, despite the employment of 80 new staff in May of that year. Soon the entire remaining workforce of 196 was made redundant. Many had been at the mill for their entire working lives. Workers were angered not only by news of the closure itself but by the way they discovered what had happened: payments simply stopped arriving in their bank accounts. Another indicator came when supplies ceased to arrive at the site. Aside from global economic conditions, one of the main factors causing the closure was the company pension scheme which by November 2004 faced a shortfall of £5m.
Post Closure
The pension scheme continues to cause problems for the mill's former employees and there are calls to wind up the plan as soon as possible.
Future plans
The mill is currently under consideration for possible conversion into an 'urban village' of 398 homes, many of which would be in historical listed buildings which require careful planning considerations before any work can commence.
Gallery
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Richards mill, in March 2006
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The mill and its famous hose tower, one year after closure
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The main mill entrance in late 2006
References
- ^ Simons, Nicholas (1845). Reports of Cases Decided in the High Court of Chancery: With Notes and References to Both English and American Decisions. Gould, Banks & Company. pp. 351–360.
- "Maberly, John (d.c.1840), of Shirley House, Croydon, Surr., History of Parliament Online". www.historyofparliamentonline.org.
- ^ "Death of Mr H. L. Holland of Broadford Works". Aberdeen Evening Express. 26 January 1893. p. 3.
- "Details of Firm, Richards & Co., Legacies of British Slavery". www.ucl.ac.uk.
- "Death of an Aberdeen Mill-Spinner". Dundee Evening Telegraph. 27 January 1893. p. 2.
- "Richards". UK Business Park. Archived from the original on 22 September 2010. Retrieved 9 October 2009.
- "Jobs go at Aberdeen textile firm". BBC News. 18 November 2004. Retrieved 9 October 2009.
- "Former Richards pensioners to join demonstration". The Press and Journal. 3 June 2009. Archived from the original on 6 March 2012. Retrieved 9 October 2009.
- "New look inside the Broadford Works site". eveningexpress.co.uk. Retrieved 22 November 2019.