Wed, 03 Apr 2019 | ADMINISTRATION
A steel stockholding company located in Dudley, West Midlands has collapsed into administration due to funding difficulties after a potential sale failed to transpire.
Meridian Metal Trading Limited has been forced to call in financial advisory firm Duff & Phelps to handle the administration process, with partners Allan Graham and Matthew Ingram appointed as joint administrators.
The company, which was founded in 1987 in Grazebrook Industrial Park, operates service centres in Guildford and Sheffield, and sales offices in Bolton and Newport, South Wales.
It produces and supplies galvanised, cold reduced, hot rolled, electro zinc and aluminised sheared blanks and slit coil sheets of both drawing and high strength grades. In addition to this, the service centres in Guildford and Sheffield offer a bespoke service to customers, offering to cut-to-length its products to suit individual needs.
Graham said: “Meridian is one of the largest, fully independent steel stockholders and processors in the UK and one of the best-known stockholders in the sector. The company processes steel sheet and coil, and supplies close to 250,000 tonnes of steel to hundreds of customers annually.
“It is our intention to continue to trade the business until a buyer is found, a process that we do not think will take long as there are already a number of expressions of interest. As of today (03 April 2019) there have been no redundancies and it is very much business as usual.
“We are receiving great support from the experienced workforce, suppliers and customers to find a positive outcome.”
Click here to view the Meridian Metal Trading Limited listing for full details.
For more news stories about administrations click here. For all our administrations listings, click here.
Established some 13 years ago, the owners of this business supported by their loyal employees have developed an enviable reputation for providing a quality service selling a specialist range of car parts.
LEASEHOLD
Highly profitable and fast growing business in the home décor segment. Strategic acquisition for a synergy buyer. Staff in place if required or would be suitable for relocation. Lots of opportunities for expansion. Turnover increase YoY 2020-2021 was...
LEASEHOLD
Long-established distributor of high-quality laboratory instrumentation operating nationwide and boasting an enviable product portfolio including gas chromatography XRF analysers optical instruments laboratory gas generators sale of spares & consumab...
28
|
Jun
|
Administrators hopeful of finding buyer for Bristol transport firm | ADMINISTRATION
Bristol-based transport, trucking and railroad firm Toogood ...
27
|
Jun
|
Administrators seek buyer for listed pharmaceutical company | ADMINISTRATION
Listed pharmaceutical firm 4D Pharma Plc has fallen into adm...
24
|
Jun
|
E-commerce imports retailer up for sale for £1.6m | BUSINESS SALE
Deals Incorporated, a Manchester-based e-commerce retailer t...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources