Excessive cut down at Doncaster aluminium firm, 98 jobs lost
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Administrators working at Doncaster manufacturing company considered to be ‘doomed’ have finalized a deal to sell particular divisions of business and create 14 jobs initially. But in the whole process, 98 jobs were lost.
As the administrators were fearful that 98 employees would lose jobs at Balby-based Norking Aluminium Ltd, the team in Wilson Field in Sheffield has sold portions of the business.
Though the administrators haven’t disclosed the deal’s total value but include goodwill, company’s stock as well as equipment, based on LKH estate in Balby.
Insolvency practitioners were appointed on 4th April as administrators at Wilson Field after Norking went through cash flow problems due to the supplies of a slump in construction industry, despite a very healthy order book. This resulted in the formation of 3 new independent companies; two belonging to Norking’s trading arms having sole UK distribution rights. The three companies are as follows: APCO- producer of signage systems, FOGA- supplier of Swedish based modular exhibition & display system and Mettech Fabrications – a new venture for manufacturing press metal work, steel bracketry and aluminium for construction industry. All these new companies are hopeful about recruiting staff once they start functioning completely.
Wilson Field insolvency practitioner Lisa Hogg said: "At this very late stage, our aim was to seek new owners to take on the viable elements of the business.
"Every effort has been made to find a buyer for the company and to salvage three divisions of the business and their associated employment. Interest was shown by a number of parties before negotiations resulted in successful sales to different parties"
