Deloitte handles steel insolvency

INSOLVENCY experts from Deloitte’s Manchester office have been appointed administrators to a North Wales-based steel fabrications company.

Bill Dawson and Dan Butters of Deloitte, were appointed to LM Engineering Services and parent company VMS Management Services yesterday, and have made 14 staff out of the workforce of 38 redundant.

LM Engineering Services is a specialist steel fabricator supplying the construction, retail and petrochemical sectors.

Based in Wrexham, the company operates from an 18,000 sq ft freehold site, together with leasehold premises.

Bill Dawson, partner at Deloitte in Manchester, commented: “Unfortunately, the group has suffered as a result of the recession, and has recently been further impacted by the closure of a customer.

“We will continue to trade the business as a going concern whilst actively looking for a purchaser.”