Manufacturing jobs saved as firm sold in pre-pack deal
All jobs at a Bridgnorth castings manufacturing firm have been safeguarded following a pre-pack deal.
Grainger & Worrall Engineering, which designs and manufactures automotive casting components, has now been purchased by Leicester-based Bridge Aluminium, saving 36 jobs.
The firm had appointed Paul Meadows and Daniel Smith both of Teneo Restructuring to handle the insolvency process.
Chris Shield, director of Bridge Aluminium, said: “We have significant growth plans for the business and look forward to creating a successful business at the site.
“Its skilled workforce and processes will allow us to expand our capability in complex castings for both production and pre-production volumes, continuing our development in non-ferrous casting by adding the sandcasting process to our existing portfolio of gravity, low pressure and high pressure capabilities.”
Paul Meadows said: “I’m very pleased that following an accelerated sale process we have been able to secure a future for the business that safeguards the jobs of all 36 employees at Grainger and Worrall Engineering Limited.”
Bridge was advised on the transaction by Sean Moran of Shakespeare Martineau LLP. Legal support to the administrators was provided by Jenna Poulton of Eversheds LLP.