50 jobs lost at stricken engineering firm

The administrator called in to troubled Kegworth manufacturer of pumps, Slack & Parr, has been revealed.

Howard Smith and Chris Pole from Interpath Advisory were appointed as joint administrators of Slack & Parr Limited and Slack & Parr (Investments) on Monday (3 July).

As we exclusively revealed earlier this week, Slack & Parr called in administrators after what one former employee told us was a company wracked by high debts.

Following their appointment, the joint administrators will look to trade the businesses while they explore options for a sale. The administrators have retained around 100 staff to assist them – while 50 have lost their jobs.

Howard Smith, managing director at Interpath Advisory and joint administrator, said: “For over 100 years, Slack & Parr has grown to become a market leader in high precision engineering, supplying gear metering pumps and rotary flow dividers to high-profile customers including leading automotive manufacturers.”

“As we explore options for a sale of the businesses and their assets, we would encourage any interested parties to make contact with us as soon as possible.”

The companies are part of a wider group, which includes trading subsidiaries in the USA and China. No other companies in the group are in administration and continue to trade.