120 jobs on the line as engineering firm calls in administrators

A Midlands-based engineering firm has appointed administrators to help navigate its future.

Mike Denny and Mark Firmin from Alvarez & Marsal Europe were named joint administrators of New Engineering on 1 August 2024.

The firm has put its uncertain future down to ‘significant cash pressures in the recent months.’

New Engineering operates sites in Worcester, Derby, and Kidderminster, employing around 120 people.

The company was formed in March 2023 after acquiring the business and assets of Neos Superform and Neos Composite Solutions, which were in administration.

The deal saved 175 jobs at the time.