Administrators called in at engineering firm

ADMINISTRATORS for ACME Engineering were appointed earlier this month, after it was unable to weather a downturn in the industry.

ACME suffered financial difficulties due to the knock on effect in the oil and gas supply chain and uncertainty in the steel market, and 17 staff were made redundant.

Keith Marshall and Gareth Harris of RSM Restructuring Advisory were appointed on May 6.

Mr Marshall, RSM restructuring partner said: “It is sad when a long established business has to close due to the knock on effect of wider industry volumes, but the hard work of the directors and the employees ahead of administration should see a better return to stakeholders.”

The Doncaster-based business was located on the Denaby Main Industrial Estate, and it was incorporated following a management buyout by a husband and wife team more than 15 years ago.

It had survived financial difficulties in 2014 having successfully completed a Company Voluntary Arrangement, but was wound down to maximise the return to creditors.

The company’s assets are being sold by auction on Friday 3 June.

 

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