99-year-old Nottingham manufacturer enters administration

A Nottingham metalwork firm which was established 99 years ago has fallen into administration.

Canal Engineering, based on Lenton Lane, has ceased trading with all jobs at the firm lost.

The firm’s latest accounts, made up to the end of August last year show the firm had assets of £4.5m and owed creditor almost £3m.

Canal Engineering employed around 85 people at the time.

Employees have taken to social media this week to bemoan the news. One said on LinkedIn: “I’m one of a fantastic team at Canal Engineering who have lost our jobs today. 17 years loyalty. [The] tax payer has to stump up the bill.”

A spokesperson for the firm told Nottinghamshire Live: “On behalf of the directors, it is with deep regret that Canal Engineering has ceased trading, as a result of market forces and unsustainable inflationary costs across all areas of the business.

“Our thoughts are with colleagues who are now in the position of seeking alternative employment.”