34 jobs lost as manufacturing firm calls in administrators

Some 34 jobs have been lost after a Nottinghamshire manufacturer was placed into administration and ceased trading.

As TheBusinessDesk.com exclusively revealed on October 6, Dale (Mansfield), which started out providing products for the deep mining industry in the 1970s and diversified into manufacturing hydraulic cylinders, had posted a notice of intention to appoint administrators.

Richard Pinder and Sean Williams of Leonard Curtis were appointed joint administrators of Dale (Mansfield) on 15 October.

Pinder said: “The company ran a marketing campaign last year to find a purchaser or investor to take the business forward which unfortunately was unsuccessful. Upon my instruction to advise the company, it was clear that its financial and operational position was such that there was no realistic prospect of avoiding a cessation of trade and there was insufficient working capital or work in progress to support continued trade, even in the immediate short term.

“The company therefore ceased to trade earlier this month and the employees were made redundant.

“We are currently assisting the Redundancy Payments Service in dealing with the processing and payment of employee claims for redundancy and their other entitlements.

“It is possible that unsecured creditors will receive some funds back through the administration process, although at this early stage this position is uncertain.”

A public auction of the company’s assets will be conducted by Nottingham-headquartered auction house network John Pye & Sons.