Wednesday, November 13, 2024

Administrators appointed to Nottinghamshire manufacturer

Nottinghamshire-based business Dale (Mansfield) Limited has fallen into administration.

Dale was established in the early 1970s, initially offering engineering, manufacturing, design and subcontracting services to the deep mining industry.

Following the decline of the UK mining industry, the company diversified its business into other industries including manufacturing hydraulic cylinders and supplying quality machined parts through to fabricated assemblies. It employed 34 members of staff.

The company has now ceased to trade, with employees made redundant.

Richard Pinder, Director, Restructuring and Insolvency, at Leonard Curtis, who alongside Sean Williams was appointed joint administrator of the business on 15 October, said: “The company ran a marketing campaign last year to find a purchaser or investor to take the business forward which unfortunately was unsuccessful.

“Upon my instruction to advise the company, it was clear that its financial and operational position was such that there was no realistic prospect of avoiding a cessation of trade and there was insufficient working capital or work in progress to support continued trade, even in the immediate short term.

“The company therefore ceased to trade earlier this month and the employees were made redundant.

“We are currently assisting the Redundancy Payments Service in dealing with the processing and payment of employee claims for redundancy and their other entitlements.

“It is possible that unsecured creditors will receive some funds back through the administration process, although at this early stage this position is uncertain.”

A public auction of the company’s assets will be conducted by John Pye & Sons.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.









Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close