KN Wheels sold out of administration

TELFORD-based K N Wheels and its holding company have been sold out of administration to Specialist Car Products for an undisclosed sum.

The sale ensures the long-established alloy wheel manufacturer will continue to trade from its current location in Ketley, Telford, with continued employment for half of the original workforce.

The sale was overseen by administrators FRP Advisory.

David Belt, managing director of Redhill-based Specialist Car Products, said: “We are very pleased to be able to continue the manufacture of the genuine ‘Minilite’ wheels at the site where they have been produced for the last 15 years and they will complement our existing Revolution wheel range.

“The remaining staff at the factory have a wealth of product and manufacturing knowledge and we are looking forward to expanding the range further, using the latest production and finishing techniques.”

Steven Stokes of FRP Advisory said: “We were always hopeful that a purchaser could be found who would retain the business in Telford.

“The sale, which was in conjunction with the sale of the ‘Minilite’ brand (not previously in administration), not only keeps a 50 year old manufacturing business alive, it also ensures continued employment for a number of the skilled local employees.”