Mining machinery company goes into administration
A loss-making mining machinery manufacturer based in Skelmersdale, West Lancashire has gone into administration, reflecting the demise of UK mining industry.
Mark Colman and John Titley of Leonard Curtis at Bamber Bridge near Preston have been appointed to handle the affairs of PJO Industrial Ltd, whose registered office is at Seddon Place on Stanley Industrial Estate, but its principal trading address is in Rotherham, South Yorkshire.
PJO was started 14 years ago. It has been run by a team of four directors, Wilfred Anthony Boardman, Mabruk Farrah and Alan Keates.
Last accounts filed for the company are for the year ended December 2015, which reported a 19.3% fall in turnover to £733,657 and pre-tax losses of £173,286. It made a profit of £16,304 in 2014.
“It has been a difficult year due to the downturn in the mining industry with the closure of the last pits in England over the last 12 months,” its accounts said.
This resulted in a large bad debt of £58,853 and a write down of stock and work in progress of £42,630.
At that time, the company was hopeful of interest in mining equipment from Russia, India and Turkey.
It’s seven staff were paid a total of £226,666 and directors received a total of £97,000,
Leonard Curtis declined to comment.
