200-year-old forging firm enters administration

Some 30 jobs have been lost after partners Raj Mittal and Tony Barrell from FRP were appointed joint administrators of 200-year-old forging firm George Dyke.

The administrators say they are now seeking a buyer for the business as a going concern.

George Dyke’s customers include blue chip companies, but has faced severe cashflow issues in recent weeks following a period of challenging trading conditions, which led it to enter administration.

Following their appointment, the joint administrators are now marketing the business for sale as a going concern as they continue to trade. However, 30 employees have been made redundant, and the remaining 43 employees have been retained to help the business to continue to trade.

Mittal said: “George Dyke is a renowned forgemaster that is well-respected by its clients and has a strong heritage in the West Midlands. We have received a number of expressions of interest from prospective buyers, and would urge any other interested parties to contact us as soon as possible. Our priority is to ensure minimum disruption for employees and customers, while ensuring we can maximise returns for creditors, and I’d like to thank the firm’s employees for their continued support throughout this process.”