Administrators appointed to North West Precision Forms
1 min read
A combination of negative factors including the loss of a major contract have caused a Birkenhead manufacturing business to call in administrators although no jobs have, at present, been lost.
Founded in 1972, the family-run business North West Precision Forms Ltd is a manufacturer and supplier of metal parts, comprising mainly bolt, drills and electric panel boarding to the aviation sector. The company employs 87 staff and has an annual turnover of around £7 million. A statement from the KPMG administrators said there had been no redundancies as a result of the administration.
Paul Flint, associate partner at KPMG and joint administrator, said: "The administration was prompted by the loss of a major contract worth approximately £1.7 million, the delayed start of a new contract and a major recall of an order for rectification. The combination of these factors resulted in pressure from creditors."
He added: "It is our intention to trade the business whilst a buyer is sought, and so would urge any interested parties to contact us as soon as possible."
Any interested parties should contact Chris Chapman at KPMG on 0161 246 4000.
