Manufacturer calls in administrators as US parent files for bankruptcy protection

A SMETHWICK manufacturer has been forced to call in administrators after its parent company in the United States got into difficulty.

ZERO Cases (UK), based in Alpha Park, supplies protective casing for sensitive equipment and markets to customers in sectors such as aerospace, communications, petrochemical, marine (both offshore and in the service support sector), disaster and emergency support services, power generation, industrial, medical, military and more recently environmental and green regeneration.
 
The firm’s US parent, Zero Manufacturing Inc, has been facing a tough time this year and recently filed for chapter 11 bankruptcy protection.

Mike Jewell, president and CEO quit the company in July, three years after joining the business.

In his letter of resignation, he said: “My disassociation with the business and lack of familiarity with current conditions leads me to the conclusion that there is little, if any value in my role, specifically from a fiduciary contribution standpoint.”

With the UK business stagnating and cashflow problems mounting, the firm was left with little choice than to seek administration.

Chris Pole and Mark Orton, both of KPMG Restructuring in Birmingham, have been appointed to jointly administer the company’s affairs.

They are trying to find a buyer for the business, which employs 17 people. In the meantime, the business continues to trade.