Mansfield manufacturer in crisis as US owner files for bankruptcy

The future of Mansfield-based manufacturer of air filters has been thrown into doubt after its parent company filed for bankruptcy in the US.

Champion Laboratories (Europe) has appointed RSM as administators putting the future of the company in doubt. Already staff numbers have been brought down from 61 to 38 since RSM was appointed on Tuesday.

The company was owned and supported financially by US group UCI International which entered into Chapter 11 in early June 2017. This left the company without the cash flow support needed in order to continue to trade.

UCI was bought by Rank International, owned by Graeme Hart, New Zealand’s richest man, for $980m in 2011.

A spokeperson for administrators RSM told TheBusinessDesk.com: “The company is continuing to trade whilst we seek a buyer for the business as a going concern.

Whilst things are at an early stage, the company has an international reputation for the manufacture of gas turbine filters and other heavy duty air filer products, which has already attracted interest from a number of sources.”

“Any interested parties are invited to contact the Administrators as soon as possible.”

In its last filed accounts, Champion Laboratories (Europe) made a loss for the year ending 31 December of £764,974.