Administrators hope for sale of manufacturer despite job losses
JOINT administrators appointed to a Yorkshire manufacturing business are hopeful of securing a sale of the firm despite having to make 66 staff redundant.
Yorkshire Marine Containers, based in Beverley, East Yorkshire, has seen John Sumpton and Liz Bingham of Ernst & Young appointed joint administrators of after a slump in orders.
The company, which was founded in 1976, is one of the leading manufacturers and designers of purpose built containers in the world for the refuse, special waste and power generation industries.
Yorkshire Marine Containers owns two sites in East Yorkshire – Belprin Works in Beverley, which has been used for container manufacture since 1976 and a 20 acre site in nearby Catfoss. The company employs 91 people at its headquarters in Beverley.
The company’s 91 staff were put on a two-day week in September but the joint administrators have made 66 employees redundant leaving 25 people to work on fulfilling existing orders.
Joint administrator John Sumpton, said: “YMCL has an excellent reputation and customer base as well as modern manufacturing facilities. Whilst the recent trading conditions have been unfavourable, we believe the business represents an excellent investment opportunity and therefore we are hopeful of finding a buyer for the business and assets as a going concern.
“The company has suffered significant reduction in orders due to the global downturn in demand and consequently, it has been necessary to make 66 redundancies after our appointment. A limited work force of 25 will remain to continue to fulfil existing orders.
“Employee specialists together with representatives from Jobcentre Plus are providing advice and assistance to employees.”
Potential buyers should contact Gurpreet Jagpal at Ernst & Young on 0191 247 2745.
