100-year-old manufacturer collapses into administration

After trading for more than a century, a Walsall-based manufacturer has collapsed into administration.

Providing electrolytic plating, high-performance surface coatings and metal finishing, The Electrolytic Plating Company fell into administration after struggling with several financial challenges, particularly since the Covid-19 pandemic.

Two divisions of the firm have been carved out and rescued after administrators at BDO secured a sale to Wolverhampton Electro Plating.

Employing 50 staff in its last accounts filed at Companies House, the remaining business has ceased to trade with an unknown number of staff made redundant.

Kerry Bailey and Lee Causer of BDO were appointed as joint administrators.

Bailey said: “The Electrolytic Plating Company Limited has traded for over a century, but it has had to navigate a number of financial challenges, particularly since the Covid crisis.

“We are delighted that the sale of the two divisions and certain assets will see the business continue, securing the continued employment for the divisional employees.

“Regrettably, the administration has also resulted in a number of redundancies. The administrators are supporting affected staff members with their statutory redundancy claims.

“We are now taking steps to maximise the remaining assets of the Company for the benefit of creditors, in line with our duties.”