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.
Provides a wide range of mandatory vehicle lights and flashing warning lights for vehicles and equipment in a number of market sectors. Operates internationally, with 237 clients, 95% of whom provide reliable, repeat business. Strong pipeline of fut...
LEASEHOLD
Well-established company operating since 1995. Importer and wholesaler of quality frozen foods. Supplies poultry, seafood, mutton, lamb, and vegetables to the catering industry.
FREEHOLD
Superb opportunity to acquire this well established manufacturer and supplier of flexible plastics and paper packaging business which serves the food sector. Annual Turnover £1.2 million. EBITDA Adjusted to £85,326.
|
27
|
|
Oct
|
Dog treats company acquired by Spectrum Brands | BUSINESS SALE
Nottingham-based pet treat and toy maker Armitage Pet Care h...
|
26
|
|
Oct
|
Legal & General sells personal investing business to Fidelity | BUSINESS SALE
Legal & General Group has agreed the sale of its personal in...
|
23
|
|
Oct
|
Worcestershire carpet maker secures £218m acquisition war chest | BUSINESS NEWS
Worcestershire-based carpet maker Victoria has secured inves...
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