Wed, 16 Apr 2014 | ADMINISTRATION
Administrators are inviting expressions of interest for cylinder maker Bradford Cylinders, after it entered administration on 4 April.
Robert Adamson and Tim Askham of accountancy firm Mazars have taken over the management of the business, affairs and property, The Business Desk reported.
The business had suffered a fall in orders and in sales volumes, which in turn impacted its cash flow situation.
Mr Adamson said: “We continue to trade the business, fulfilling orders and attempting to secure a sale for the business.
“To that end, we have received some expressions of interest but would welcome approaches from commercial parties interested in acquiring the business or assets.”
Out of its 37-strong workforce, 13 have been kept on to assist with satisfying customer orders.
West Yorkshire-based Bradford Cylinders has been in business for over a century. The company designs and manufactures heavy duty hydraulic and pneumatic cylinders for the steel, aluminium, process, marine, offshore and forging sectors.
In its early days it produced metallic seals for the shipbuilding industry, and spares are still made for these products. In the last 50 years Bradford Cylinders has created its range of standard heavy-duty cylinders for the steel industry around the globe.
It moved to its current premises - a modern, 4,000 square meter production site - in 2007.
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Manufacturing businesses in administration
This is a unique opportunity to acquire two well-established B2B companies operating across multiple sectors throughout the UK, boasting strong client relationships and secure contracted revenues poised for further expansion.
LEASEHOLD
This is a unique opportunity to acquire a prominent company in a specialist sector with a high barrier to entry, offering integration potential and a cash-generative model with repeat revenue.
This business presents an enticing opportunity with established relationships with blue-chip organisations globally, a strong client retention rate, and the potential for relocation.
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