Steel manufacturer braces for uncertain future
A Birmingham-based steel manufacturer is staring at an uncertain future after posting a notice of intention to appoint administrators (NOI).
R & S Laser Cutting & Fabrications is a sub-contract laser cutting and fabrications company that started out in 1996 with a welding set and drilling machine.
It’s since grown to double its floorspace to a 30,000 sq ft site in Hockley and employs 30 staff that serve a wide range of industries from automotive and oil through to education and retail.
For the last two years, the manufacturer has incurred considerable losses of £419k in 2023 and £494k in 2022. Its current liabilities exceeded its assets by more than £1m in 2023 and R & S said it was being supported by its director and shareholder.
The NOI, filed by representatives from The Wilkes Partnership, will protect the firm from any creditor action for a period of around ten days while the company attempts to find a way forward.
