Tue, 09 Jul 2019 | ADMINISTRATION
An engineering firm based in South Yorkshire has fallen into administration as a result of difficult trading conditions and consequential cash flow difficulties.
RJD Fabrications Ltd, which provides engineering and fabrication services from its site in Rotherham, was forced to call in professional advisory firm KPMG to handle the administration process, with partners Howard Smith and Dave Costley-Wood appointed as joint administrators.
The company endured a long period of unsustainable and loss-making activity, providing specialist heavy duty steel engineering services, which resulted in its administration.
It trades as RJD Engineering, and is a subsidiary of Robson Handling Technology which has not been affected by the administration. Its fellow subsidiary, Robson Site Services, is also continuing to trade without being influenced by the administration.
A handful of staff members have been retained on its Hellaby Industrial Estate to assist the company wind down its operations and complete a number of final orders in the coming weeks.
Smith: “RJD Fabrications was unable to meet its financial obligations after experiencing severe cash flow issues as a result of declining revenue.
“Without significant investment or a buyer, the company was unable to operate sustainably in its current form. We are on site to support the employees and explore options for the sale of the remaining assets and order book.”
The administrators are exploring the sale of the assets, and are inviting potential buyers to express their interests immediately.
Click here to view the RJD Fabrications Limited listing for full details.
For more news stories about administrations click here. For all our administrations listings, click here.
Profitable company with a stunning range of high-quality marquees and awnings. Industry leaders in a niche range of British made marquees. Reason for sale: retirement. Area of business: UK & Europe. Offers invited.
Lucrative reputation in the industry with loyal clients. Industrial business site. High standard of work - bespoke designs. CE certification. Experienced staff with expert knowledge. Long established. Offers invited.
LEASEHOLD
Highly skilled workforce and portfolio of leading tools and equipment. Strong second-tier management team in place, able to manage the day-to-day operations. Long-standing client relationships, with some in place since inception. Works within a diver...
LEASEHOLD
|
18
|
|
Sep
|
Infrastructure investment manager takes stake in LJLA | BUSINESS SALE
Infrastructure investment management group, Ancala Partners,...
|
17
|
|
Sep
|
Impact REIT snaps up Suffolk-based Cardinal Healthcare business | BUSINESS SALE
Impact REIT has successfully acquired Cardinal Healthcare, a...
|
16
|
|
Sep
|
Cheshire-based SRL Traffic Systems completes MBO | MBO/MBI
SRL Traffic Systems, a manufacturer and supplier of portable...
Sign up to receive our acquisition alert emails to get your FREE guide
|
17
|
|
Sep
|
Impact REIT snaps up Suffolk-based Cardinal Healthcare business | BUSINESS SALE
Impact REIT has successfully acquired Cardinal Healthcare, a...
|
05
|
|
Aug
|
Superbreak and LateRooms travel businesses for sale after administrators appointed | BUSINESS SALE
The Malvern Group, parent company of LateRooms and Superbrea...
|
26
|
|
Jun
|
'All options' being explored for collapsed Welsh cheese maker | ADMINISTRATION
A cheese-making factory in Snowdonia has collapsed into admi...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources