Andrew Poxon and Mike Dillon, of Leonard Curtis Business Rescue & Recovery, were appointed Joint Administrators of Trufab Limited (‘the company’), a metal fabrication business based in Rochdale on 24th March 2021.
Immediately following the Administration appointment, the business and assets were marketed for sale whilst the joint administrators traded for a short period to preserve values and enhance realisations.
Joint Administrator Mike Dillon said: “Unfortunately, the business experienced a significant reduction in turnover in recent years and, more recently, was severely impacted by the Covid-19 pandemic, with a reduced workforce due to requirements to self-isolate.
“These factors contributed to large losses which resulted in the company falling behind with its obligations to creditors.
“However, I am pleased to confirm that, following a period of trading after our appointment, a sale of the business and assets was concluded on 6 April 2021 to Trufab Technologies Limited, an unconnected third party, safeguarding 39 jobs.
Trufab Technologies Limited is part of the specialist engineering services group, Belgrave and Powell, and worked on the assignment in partnership with Realta Consulting and Strala Investments.
Leonard Curtis Business Rescue & Recovery is part of the Leonard Curtis Business Solutions Group.
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