A HISTORIC Lye company which is a world leader in home and office drawing products has gone into administration.

Helix, based in Engine Lane, called in administrators from Grant Thornton UK LLP on January 23.

The helix groups of companies, which employs 38 people in Lye, began in 1887 and currently trades under the Helix and Oxford brands.

A spokesman from Grant Thornton said: "The joint administrators from Grant Thornton UK LLP are currently speaking to a number of interested parties and have received offers for the sale of the business as a going concern."

Helix subsidiary businesses in Hong Kong and the United States are currently not involved in the insolvency process.