Administrators called in at 100-year-old manufacturer

A Kegworth firm which sells custom precision gear pumps across the globe has called in administrators, TheBusinessDesk.com understands.

Slack & Parr, which was formed in the Leicestershire village over a century ago, has immediately made some 40 people redundant, according to an employee who contacted us. The source told us that “debts are high” at the company.

In November 2020, Slack & Parr moved into its new 73,000 sq ft headquarters on Long Lane Kegworth, after securing a multimillion-pound loan from ASG.

In its latest accounts, made up to March 30 2022, Slack & Parr, directors said the annual results were “still not acceptable” but were “moving in the right direction”. At the time the firm employed over 160 people.

Slack & Parr made a loss before tax of just over £1.5m over the period – down from £2.6m in 2021. Turnover from from £7.5m to almost £11.7m over the same time frame.

A statement signed off by directors said: “The expectations for the forthcoming year are for a period of improved trade with a high level of sales and modest level of profit anticipated.”

TheBusinessDesk.com has contacted Slack & Parr for comment.