Mon, 19 Nov 2012 | BUSINESS SALE
Gabriel & Co, an independent alloy steel foundry business in administration, is seeking a buyer to rescue the historic firm.
PKF have been appointed as administrators for the firm. The accountancy team has already made a quarter of the manufacturer's 30 employees redundant in an attempt to cut costs. However, they are now seeking a buyer to take the company forward.
A spokesman from PKF told Insider Media that the administration came about as a result of the costs linked with moving the business from its historic location in Birmingham city centre to a larger premises in Smethwick, including an investment in a new £500,000 foundry.
The spokesman said: "PKF is working with the management to identify interested parties [to buy the business] and is encouraged with the interest shown to date.
"In the meantime we are continuing to trade the business with the assistance of the management and staff, as well as the company's loyal customer base.”
The company had been in existence at its former location for 126 years after Peter Gabriel founded a small brass foundry in AB Row. By its centenary in 1984 it had amassed a workforce of 200 as business became increasingly strong.
A well-established UK distributor renowned for high-quality bicycle components and accessories, serving both retail and trade customers nationwide, is available for acquisition.
This well-established specialist glazing business in Derbyshire boasts over 30 years of success, supported by a well-presented showroom and ample storage.
This well-established car sales and garage business in Nottinghamshire offers a superb reputation supported by positive online reviews and occupies a prominent position on a main road in Worksop.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.