Thu, 02 Aug 2012 | ADMINISTRATION
An established ironsmith in Burnley has entered administration after struggling to maintain a profit during the current economic climate and difficult trading conditions.
B Rourke and Co., based in Accrington Road, manufactured wrought iron and specialised in the production of iron gates and railings for private and commercial clients in both the domestic and international markets.
Patrick Lannagan and Tracey Pye from BDO have been appointed as joint administrators to the business. Mr Lannagan, a business restructuring partner with the firm, commented: “Unfortunately the current economic climate and difficult trading conditions significantly affected the business. The company had been seeking a buyer over recent weeks but, despite contact with a significant number of potential acquirers, there was no interest in the business as a going concern.”
He added that all necessary steps will be taken now to mitigate losses for stakeholders and maximise recoveries for the benefit of all creditors.
Unfortunately, all 37 jobs at the business will be lost, with 19 employees being made redundant shortly after the administration and the remaining 18 staying on to help wind down the company.
B Rourke and Co. was established in 1961 and had built up a well-known name among locals and customers for its services.
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