BUSINESS TYPE:	HIGH INTEGRITY STEEL CASTING FOUNDRY
LOCATION:	SOUTH YORKSHIRE
RESTRUCTURING:	SUCCESSFULLY COMPLETED

Our client was set up in 1980 to provide steel castings for the mining industry. With the decline of the mining industry they graduated to be a leading producer of high integrity steel castings, employing some 150 staff and with an annual turnover of £12 million.

A rapid expansion plan in 2001 led to a price driven decline in gross margins and consequently the company incurred substantial losses. As a result of creditor pressure and a significant bad debt, the directors were advised their only option was to call in the administrators, putting at risk the jobs and the business.

Beer & Young advised that a Company Voluntary Arrangement was the right solution and now over 100 jobs are saved and the company’s finances on an even keel.

PREVIOUS

NEXT