68 jobs saved as steel construction firm rescued in pre-pack deal

Family-owned Derby steel construction firm, Robinson Structures Limited (RSL) has been sold out of administration

RSL is a third-generation company, with dating back to the 1950s. Having created a strong reputation in the design and construction of steel frame buildings, they have successfully entered a variety of industrial and agricultural industries over the years.

Despite this, the Derby-based company experienced loss-making periods prior to March 2019 and from the second quarter of 2020, exacerbated by Covid-19.

Dean Nelson, Head of PKF Smith Cooper’s Business Recovery and Insolvency division, became involved initially to review the financial position and options for the company, following the removal of RSL’s insured credit limits with its key suppliers. This advice resulted in PKF Smith Cooper being instructed to undertake an accelerated merger and acquisition process to try and identify a buyer for RSL.

Immediately on appointment as administrator, some of the assets of the business were sold via a pre-pack that included the retention of the majority of the workforce

Nelson said: “I am pleased that we have managed to secure the sale of the majority of RSL’s assets, saving jobs in the process. It has been a very difficult time for the company and its management, compounded by various external factors and commodity price increases.”

A spokesperson for RSL added: “It’s a sad day for the Robinson family, but we are thankful that jobs have been saved and the state-of-the-art production facility remains both intact and operational.”