100 jobs saved as pre-pack deal secures future for historic manufacturer

A pre-pack sale has saved nearly 100 jobs, rescuing part of a Black Country manufacturing group out of administration.

TheBusinessDesk.com revealed that administrators at Evelyn Partners were appointed to the parent group Rical and its subsidiaries: William Mitchell, Fellows, Multiforms, Taurus and its jewellery subsidiaries Priory Products and H.A. Light Findings.

Headquartered in Smethwick, the group manufactured fine blanking, metal pressings and fabrications for customers across sectors such as automotive, defence, jewellery, construction and catering.

The directors of William Mitchell acquired part of the Rical group’s business and assets for £1.47m, saving 98 jobs. The pre-pack deal included the Woods Lane site (Multiforms), plant & machinery of William Mitchell, Multiforms and Taurus divisions and a selection of the Fellows division. 17 staff have been made redundant.

Despite a financial restructuring in 2020/2021, Rical experienced challenging operational issues amid a downturn in the automotive industry. A key customer reduced its orders, leading management to implement cost reductions such as a four-day working week.

Increased creditor pressure, concerns regarding future sales income and pension scheme obligations, prompted directors to approach Evelyn Partners.

The historic group dates back to 1824 when William Mitchell, based in Smethwick, started trading as a presswork company, manufacturing the first commercially produced metal pen nibs.

Graiseley Row (Fellows site) and Parker Drive (Mitchell Grieve site) remain to be sold by administrators, together with the residual plant, machinery and chattel assets that were excluded from the sale.