Historic manufacturer goes under with majority of jobs lost

Almor, a specialist fabricator and thermal engineering business based in the Midlands with sites in Tipton, Huthwaite and Nottingham, has ceased trading, with the majority of the firm’s staff being made redundant.

Scott Bevan, director, and Rebecca Dacre, partner, at Mazars were appointed as joint administrators to the firm earlier this month.

Almor was established in 1992 but comprised businesses with histories going back to 1904. Its customers included some of the world’s leading engineering companies.

According to the company’s latest available accounts, made up to the end of September 2020, Almor employed 78 people.

The joint administrators said that Covid-19 created a “challenging operating” environment with turnover reduced by two thirds. More recently the company has struggled to recover to pre-pandemic levels of work, causing both financial losses and “significant” cash flow issues.

Given the resulting cash flow difficulties, the directors decided that the company had to be placed into administration. The business has ceased to trade, and the majority of the employees have been made redundant. The joint administrators are seeking a buyer for the company’s assets.

Scott Bevan, joint administrator and partner at Mazars, said: “We are sorry to see a historic business in the Midlands like Almor Limited cease trading. The business had traded very successfully for many years but suffered from the devastating impact of Covid-19, which has ultimately resulted in the directors taking the difficult decision to enter administration.

“Once the conclusion was reached that the business was no longer viable, the directors were keen to act quickly and appoint administrators to prevent the position for creditors worsening. Despite seeking interest in the business prior to entering administration, no buyers were forthcoming, leaving the Directors no option but to cease trading. We are working closely with the company and its key stakeholders, and we hope to find a buyer for the company’s assets.”

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