Kendal engineering firm ceases trading

A KENDAL-based steel fabricator has ceased trading after administrators were called into the business.

Chaner Services had suffered from a fall off in volumes and profitability and since the company’s owner, Henry Johnson, was already past retirement age a decision was taken to cease trading and place it into liquidation.

However, once the company’s principal funder, SME Invoice Finance, received notice of a creditors’ meeting, it appointed John Sallabank and Paul Boyle of Harrisons Business Recovery in Salford as joint administrators in order to protect their interests.

Mr Sallabank said that the company’s two employees and directors had been made redundant prior to its appointment and the only asset of any substantial value is the book debt over which SME Invoice Finance has a charge under an invoice finance agreement.