Jobs saved in Lancs foundry rescue

A LANCASHIRE castings manufacturer has been sold out of administration, safeguarding 80 jobs.
 
Coupe Foundry of Preston was placed into administration in late January and has now been acquired by a new entity, Coupe Castings Ltd, which is part-owned by former competitor, Bolton-based Shakespreare Foundry, and a former cusotmer Eaves Machining Ltd.

Established around 100 years ago Coupe supplies cast iron, ductile iron, alloyed irons and steel castings to a wide and variety of customers throughout Europe.  

The business was placed in the hands of joint administrators Jason Elliott and Craig Johns of Cowgill Holloway Business Recovery on 27 January 2014.

Joint administrator Jason Elliott said: “This is a well-established business with a loyal customer base which has been faced with extremely challenging trading conditions.

“Not only are we delighted to have been able to achieve a sale of the business but additionally, the combined experience and knowledge of this sector that the purchasers bring should ensure a long term viable future for the business and its employees, which is great news for its staff and customers.”