Saturday, May 30, 2020

Jobs saved at 140 year old Sheffield manufacturer

After 140 years trading a Sheffield based manufacturer has collapsed into administration putting over 40 jobs at risk. Fortunately administrators managed to facilitate a pre-pack sale of the joinery division to an unconnected private investor, saving 24 jobs. .

Established in 1875, Sheffield-based Birley is known for its specialism in joinery and metalwork. The business has built a reputation as a leading manufacturer of interior environments and rail vehicle equipment.

Howard Smith and David Costley-Wood from KPMG were appointed joint administrators to Birley Manufacturing Limited, on 18 November 2019

The joint administrators were appointed after the company suffered cash flow issues and was unable to meet its financial obligations.

Upon appointment, the administrators facilitated a pre-pack sale of the joinery division to an unconnected private investor. A total of 24 employees transferred to the purchaser.

A buyer continues to be sought for the metalwork division whilst the Administrators complete remaining work in progress. If a buyer cannot be found the administrators are looking to sell assets and begin winding down operations. Regrettably, 17 redundancies have been made to date, while eight staff have been retained in the short term to support the administration process.

Howard Smith, Joint Administrator said: “The sale of the joinery division secures a future for the businesses operations in Sheffield and protects a number of jobs. The focus will now be on securing a sale of the metalwork assets and winding down operations, while supporting affected employees.”

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