Engineering firm makes 28 redundancies as administrators called in
Twenty-eight staff have been made redundant at specialist component manufacturer and engineering firm Richmann Walsh Engineering.
Gareth Prince and Mark Malone, Partners at Begbies Traynor, were appointed as joint administrators to Coventry-based company on the 20th July 2022, which has now ceased trading.
Richmann Walsh Engineering was established in 1968, originally as a toolmaking company but since evolved, supporting industries such as automotive, agricultural and the military.
Gareth Prince said: “Richmann Walsh Engineering Ltd was founded almost 50 years ago and had established itself as a specialist component manufacturer and bespoke engineering service provider to the automotive sector.
“Like many businesses, it was significantly affected by the Covid-19 pandemic, as well as production and supply chain issues in the automotive industry which all had a negative impact on the company’s profitability.
“Unfortunately, as a result, the business has now ceased trading and 28 staff have been made redundant. We are working to ensure the claims of the various stakeholders, including the employees, are dealt with and managed as efficiently as possible.”