Thu, 26 Mar 2026 | ADMINISTRATION
Administrators are seeking to secure a buyer for the UK businesses of a global engineering and manufacturing company. The UK operating entities of the moveero business comprise Sankey Holding Limited, moveero Limited and Autostructures UK Limited.
The businesses employ approximately 250 staff at a manufacturing site in Telford. All employees are being retained while the search for potential buyers is undertaken.
Dating back to 1908, moveero is an industry-leading manufacturer of off-highway wheels, primarily for tractors and construction vehicles. The group is headquartered in Iowa, USA, with additional operations in the UK, Denmark and Italy.
The three UK businesses fell into administration on March 26 2026 after filing a notice of intention to appoint administrators last week. The wider group continues to trade profitably, with the UK insolvencies not impacting operations and businesses in the US and Denmark.
Over recent years, moveero’s UK businesses have faced significant operational challenges, resulting from downward pricing pressure, strong competition from rivals and a weakened off-highway market.
David Geraghty, Chief Executive of moveero, said: "Against a difficult economic backdrop, we have worked tirelessly over the past 12 months to improve the financial performance of the UK business.”
The joint administrators have agreed ongoing support and funding from key customers, enabling administrators to assess the available options and complete current production and delivery schedules.
Saying that moveero had “long been at the forefront of the global off-highway wheel manufacturing market”, one of the joint administrators stated: “Our immediate priority is to seek buyers for the UK businesses and assets and would urge any interested parties to contact us as soon as possible."
In the year to December 31 2024, Sankey Holding Limited reported a loss of around £1.2 million, up from £895,000 a year earlier. At the time, its non-current assets were valued at £8.6 million and current assets at £119,000, but net liabilities totalled £18.9 million.
During the same period, moveero Limited reported revenue of £35.5 million, down from approximately £44.1 million a year earlier, while post-tax operating losses increased from £242,000 to £4.4 million.
At the time, its non-current assets were valued at around £12.4 million and current assets at approximately £8.1 million, but net liabilities totalled close to £6 million.
Autostructures UK Limited, meanwhile, reported revenue of around £15.5 million during 2024, down from £22.4 million in 2023 and saw operating profits fall from £1.4 million to £322,000. The business’ post-tax losses, however, fell from £430,000 to £37,000.
Non-current assets were valued at £534,000 and current assets at £8.6 million, with total equity standing at £3.8 million.
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