Thu, 22 Nov 2012 | ADMINISTRATION
Hampson Industries has entered administration and sold off its BHW Components business to an engineering firm.
Northampton-based LNB UK bought BHW, which makes components for use in fuselages and other aircraft parts, for £2.36 million, despite the fact that the firm made a £3.9 million loss in the year to 31 March 2011.
The proceeds of the sale will be used to pay down some of Hampson Industries' debts during the administration process.
Administrators Simon Kirkhope and Chad Griffin of FTI Consulting have also said that they are seeking a sale for the company's operations in the US and India.
Analysts have suggested that Hampson Industries' overambitious plans for growth and expansion are to blame for its collapse. Rachel Eade, supply chain specialist at the Manufacturing Advisory Service, told the Birmingham Post: “This business failure has come out of a company trying to be successful and grow, so it is sad.
“In essence, for whatever reason they overstretched and didn't do their due diligence properly and were caught. There will be a big impact on the supply chain because Hampson Industries was a key supplier.”
Operating across North Yorkshire, the company has two divisions, one that provides IT infrastructure and one offering renewable energy solutions, including solar PV systems and electric vehicle charging points.
The group specialises in supplying and installing UPVC windows, doors and conservatories in a wide array of styles. Bespoke bathroom panelling and high-quality guttering products are also provided by the two companies.
The company is a well-regarded specialist provider of hygienic wall, floor, and ceiling cladding systems. To complement its core supply of PVC cladding, the business offers hot welded joints to prevent the build-up of bacteria and can supply stainles...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.