Engineering firm Fairwood Fabrications goes into liquidation

Tue, 26 Jul 2016 | ADMINISTRATION

An engineering firm that was a key figure in the industry, supplying the likes of Tata Steel, has been placed into liquidation.

Fairwood Fabrications, which was based at Port Talbot, Wales, and had been having financial troubles, closed down on 8 July 2016, with the loss of a total 250 jobs since January. Having been part of the industry for 35 years, the closure of the family business was described as a “disappointing blow” by Sandra McAlister, who is working alongside Simon Barribal as the liquidators from McAlister and Co.

A supplier to Tata Steel, the company was involved in the construction of steel buildings and other products, as well as pipework services to the steel industry in South Wales.

Chairman Gherold Davies said the business had also been disappointed by the delay to the planned £1 billion tidal lagoon project in Swansea, which would be “immense” for the steel industry in the area, he told the BBC.

The loss of Fairwood Fabrications is an indication of more issues to come for the other businesses in Tata's supply chain, an economy expert said.

A spokesman from the Welsh government said: "Fairwood approached Welsh government in June for £200,000, however we felt unable to provide further financial support given the information provided by the company."

He also said the government had been in talks with Fairwood for some months and had provided help “where possible”.

A meeting of creditors is scheduled for today, 26 July 2016.

Find other businesses in liquidation


Share this article



Latest Businesses for Sale

Children’s Day Nursery
West Yorkshire, Yorkshire and the Humber, UK

The nursery occupies a prominent position fronting a main road within a well populated residential area, just a short drive from the main commuter route with public transport facilities and the motorway close at hand. Detached children’s day nursery...

Asking Price: £700,000
Turnover: £333,083

FREEHOLD


Bakery with Six Retail Outlets
Oxfordshire, UK Wide

Family run business since 1929. Wholesale operation and with six retail outlets. This is a retirement sale. Offers invited.

Asking Price: £1,250,000
Turnover: £2,227,689

Trio of Children's Day Nurseries
Oxfordshire, UK Wide

Three affluent trading locations. 129 places combined. One freehold and two leasehold premises. Genuine reason for sale. Offers invited.

Asking Price: £1,625,000
Turnover: £1,044,625


View more businesses for sale

News Search

Latest News

 
04
 
Jun
 

Frankie & Benny’s owner to permanently close 120 restaurants | BUSINESS NEWS

The Restaurant Group, which owns chains including Frankie & ...

 
03
 
Jun
 

28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE

28 Oddbins stores will remain open after the off-licence ret...

 
02
 
Jun
 

Topps Tiles agrees sale and leaseback of HQ and warehouses | COMMERCIAL PROPERTY

Tile retailer Topps Tiles has agreed the £18.1 million...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources