Fri, 14 May 2010 | ADMINISTRATION
Resistance welding components specialist, R&W Cushway & Co Limited, has entered administration, with the appointment of Geoff Rowley and Jason Baker of Vantis Business Recovery Services.
The recession and difficult trading are the factors behind the situation, according to Steve Herrington, a director at the firm. He says, "the volume of work required in keeping the business viable has not been available."
The administrators are currently seeking buyers for the business, while it continues to trade in order to finish its incompleted works. Vantis made 12 redundancies on appointment.
Of the administration, Mr Baker said: "The continued decline of the automotive industry has badly affected R&W Cushway & Co Limited and, consequently, the Directors had no alternative other than to place the company into administration."
A family-operated business based in Waltham Abbey, Essex, it has supplied niche resistance welding consumables to the automotive and general welding trades for more than 70 years.
The company website informs visitors that its revenues are in excess of £3.5m, and that it has good levels of raw materials consistently available. There is also substantial stock of completed components to ISO and BS807 standards.
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