A CENTURY-old paints firm in East Lancashire, with branches across the area, has gone into administration.

Insolvency experts have been called into Dexter Paints, based in Trafalgar Street, Burnley, after an administration order was made at Manchester District Registry.

Administrators are now considering the future of the company, which employs more than 40 people.

But management buyouts have taken place at the firm’s shops in Vernon Street, Blackburn and Burnley town centre, and they are now known as Dexter Decorative Supplies and Dexter’s of Burnley respectively.

Just last year the company, which makes paints, varnishes, printing inks and mastics, was undertaking pioneering work on biofuels.

The Trafalgar Street plant was producing 20,000 litres of bio-diesel, based on cooking oils, which it hoped to market to the likes of Lancashire County Council and the county fire service.

Last year the firm had a turnover of £3.15m but it appears to have become yet another victim of the credit crunch in East Lancashire.

Uncertainty surrounds Dexter’s trading future after Bury-based administrators Leonard Curtis were called in.

A spokesman for the administrators said: “We are still compiling details regarding the company before we release any information.”

Dexter began life under Cornelius Eatough, as a supplier of decorating goods, based in Sandygate, Burnley.

The company was split into Dexter Industrial and Dexter Decorative, in 2003.

No-one at the Burnley office was available for comment.