Buyer sought as manufacturer slips into administration

Administrators have been called in to a Leicestershire manufacturer after it became the victim of cashflow issues.

Nathan Jones and John Lowe from business advisory firm FRP Advisory were appointed joint administrators of Albion Blades on 25th June and are now seeking a buyer for the business.

Headquartered in Market Harborough, the company trades as Harborough Strip Steel and is a UK manufacturer of rules and ancillary products for the die making, packaging and printing industries.

The administrators say the company has faced several cashflow problems in recent months, which led it to enter administration.

Jones and Lowe are now marketing the business for sale as a going concern. All 10 employees have been retained to work through existing contracts while a buyer is sought.

Jones said: “Harborough Strip Steel is a specialist manufacturer and one of the most respected in its field. We have received a number of expressions of interest for the business as a going concern and are hopeful that a sale can be concluded in the near future. Our priority is to ensure minimum disruption for employees and customers, and I’d like to thank the firm’s employees for their continued support throughout this process.”