Brexit uncertainty threatens to bring down Notts manufacturer

Jena Tec's premises in Annesley

A Nottinghamshire manufacture of rotary motion equipment has slipped into administration putting 15 jobs at risk.

Mike Solomons of BM Advisory and James Robinson of Finn Associates were appointed joint administrators of Jena Tec Precision on Tuesday 17 September.

Jena Tec, which is based on Sherwood Park, exports to the USA, Europe and Asia, and is involved in the design, manufacture and supply of linear and rotary motion products and services, with wide experience in the fields of ballscrews, spindles, actuators, linear motion components, and also offers asset repair.

The business says it has suffered from a recent downturn in sales, principally due to customer caution driven by the political and economic uncertainty in the lead up to Brexit.

On 11 September, BM Advisory was instructed to conduct a review of the financial position of the business and it was quickly concluded that the best option to save the company and preserve jobs was to place the business into administration.

The joint administrators are now trying to sell the company.

Solomons said: “The director worked hard to address the various business challenges, however, the general country-wide slowdown in business and consumer confidence, which is hitting demand and sending shock-waves across most British industries, led the company to experience financial difficulties.

“Jena Tec has a strong distribution network and a reputation for providing quality, competitive pricing, good delivery and excellent customer service. We therefore feel confident that a buyer will be sought and a strong future for the business restored.”

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