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.
A leading provider of high value commodities and fast-moving consumer goods such as coffee, baked goods, sweets and body care products from household name brands. Serves 14 active clients, 100% of whom provide the company with reliable, repeat busine...
LEASEHOLD
Well-Established, the company is pleased to be one of the leading distributors of innovative air quality products. These products are designed in Switzerland and offer exceptional performance. Given their autonomy over Swiss products, the company has...
RELOCATABLE
The business distributes a broad range of products, including fashion accessories, cosmetics, gifts, homeware, toys and furniture. Award-winning B2B distributor with an excellent track record of growth, over 65% in the last four years. The busines...
RELOCATABLE
|
09
|
|
Dec
|
Scunthorpe construction group call in administrators | ADMINISTRATION
Scunthorpe-based Clugston Group and Clugston Construction ha...
|
06
|
|
Dec
|
KPMG agrees to sell pensions arm | DIVISION SALE
Professional services network KPMG has announced that it has...
|
05
|
|
Dec
|
What a Labour government would mean for UK entrepreneurs | BUSINESS NEWS
Private business mergers and acquisitions expert Sue Green o...
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