Jobs lost as specialist firm fails to find buyer

Rotherham specialist powder metals firm Metalysis has made 37 people redundant after entering administration and failing to find a buyer for the business.

Administrators Grant Thornton said that despite “an encouraging level of interest in the Metalysis business”, the administrators had made 37 employees redundant. The firm has a base at the Advanced Manufacturing Park and also in Manvers.

Eddie Williams and Chris Petts of Grant Thornton UK LLP were appointed joint administrators to Metalysis earlier this month.

Williams said: “We have engaged with and received a wide number of enquiries from interested parties which have progressed over the last 10 days. Unfortunately, these discussions have not advanced to the point where the funding is in place to support the ongoing workforce. We will look to progress these discussions wherever possible but without funding, regrettably, I have no alternative than to make these redundancies at this point.

“I would like to thank the workforce for their ongoing support since our appointment which has allowed interest to progress. We will look to provide support at this difficult time, and I am disappointed we have had to make this difficult decision. Given the overall level of interest there may be further developments and we will continue to explore every option in respect of this innovative technology.”