Creditors likely to miss out on £800,000 after skip manufacturer’s collapse
Creditors of collapsed Nottinghamshire steel fabricator, Firber Engineering, are unlikely to receive any of the £800,000 owed to them, TheBusinessDesk.com understands.
Simon Chandler and Scott Bevan of Mazars were appointed administrators of Firber on November 23 after spiralling steel costs and legacy issues from the Covid pandemic saw the company fall to unsustainable losses between September 1 2020 and February 28 2022 of almost £230,000, according to documents seen by TheBusinessDesk.com.
The skip manufacturing specialist ceased trading and all 29 of its employees were made redundant in November after 54 years in business.
At the time, Chandler said: “It is always disappointing to see a prominent Nottinghamshire company like Firber Engineering cease trading. The business had traded successfully for over 50 years but, like many other businesses, has suffered from soaring coats associated with the effects of the Covid-19 pandemic and the Ukraine war, which has resulted in the directors making the difficult decision to enter administration.”