Manufacturer ceases trading as CCJs take their toll

A Coventry manufacturer of precision engineered components has ceased trading with administrators now set to conduct an investigation into the financial affairs of the company.

Bradon Engineering has been trading for over 25 years. In May 2020 the business was acquired by Peter Dodd, via a corporate shareholder, who has an interest in several other engineering businesses.

In recent months the company received a number of County Court Judgments against it and fell in arrear with finance payments in respect of its assets. The reason for this is currently unknown.

In order to protect the interests of the company’s creditors, Philip Ballard of Ballard Business Recovery, based in Lichfield, was appointed as administrator of the company on 14 December 2021 by the debenture holder. Ballard says he is reviewing the financial affairs of the company “to ascertain the full extent of the company’s assets and liabilities”. A full investigation in respect of the affairs of the company, including the reasons for its failure, will be undertaken.

All trading operations had ceased prior to the administrator’s appointment and as such all contracts of employment have now been formerly terminated.

A statement from Ballard said: “There is no viable business to sell as a going concern. [We are] currently working with professional advisers to maximise realisations of assets for the benefit of creditors. Further information will be circulated to creditors within the Administrator’s Proposals which are expected to be issued towards the end of January 2022.”

In Bradon Engineering’s most recently available accounts for the year ending December 31 2019 made a loss of £16,647, down a from a profit of £72,698 in 2018. The firm employed 13 people at the time.