Fri, 08 Oct 2010 | ADMINISTRATION
Dorset-based precision engineering company, Park Manufacturing Ltd, has gone into administration, despite the company currently holding a busy roster of work.
Administrators from MCR were called to the company’s premises on Weymouth’s Granby Industrial Estate this week, fully intent on keeping the company trading as a going concern.
The action puts the company’s 87 jobs at risk, but no redundancies have yet been announced at the Surrey Close factory and MCR has launched a search for companies to potentially buy it out of administration.
Operations manager Ben Edwards said the financial situation was not currently affecting the workers’ productivity, declaring, “We’ve got work to do. We have just finished September and it’s been the busiest month since the new owners took over the company and everyone is busy at the moment.”
The company was established in 1986 as Park Engineering and swiftly expanded to become one of Dorset’s leading engineering firms. It carried out work for Granby-based DEK and the Ministry of Defence after investing in modern computerised engineering equipment.
The company was sold to Frontline Manufacturing Group by owners Dave Higson and Mick Archer for £4 million in April 2008, with new owners Peter Tarrant and Allan Edwards announcing plans to extend the business and build on the staff of 90.
Nigel Reed, president of Weymouth and Portland’s Chamber of Commerce, said, “The administrators must see the business as a viable concern and will keep it going to find a buyer, although there might be some job cuts.”
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