Phil MeekinView Profile
A Chesterfield machine tool manufacturer, which was bought out of administration last October, is now up for sale.
The business and assets of Peak Toolmakers Limited were bought by sister company; Peak Toolmakers (Assets) Ltd, managed by two of the existing directors, Geoff Bacon and John Buxton late last year, saving 46 jobs.
Now four months on, the company is available to buy. It is a company which supplies to the global automotive industry and based on Chesterfield Trading Centre on Smeckley Wood Close.
Insolvency practitioners Kelly Burton and Rob Dymond from Sheffield-based Wilson Field were appointed as joint administrators on 1 February to handle the sale out of administration.
Kelly Burton from Wilson Field said;
“The company had a number of orders but ran into difficulty due mainly to a lack of working capital.
“This situation has now resulted in us being appointed and, at this stage, regrettably having to make a number of staff redundant.
“The company is still trading but operating on a total of 13 staff to complete current orders. For any potential buyers, there are skilled staff available in the local vicinity, and they would be buying a recognised name in the industry with a good reputation and an established customer base.”
The company had enjoyed a profitable trading history since 2004 and had significantly grown to become a key operator in the sector.
Administrators from Wilson Field were first appointed back in September 2015 to handle the sale out of administration to Peak Toolmakers (Assets) Ltd. This followed a drop in demand from a major customer coupled with making a significant loss on a contract.
Peak Toolmakers’ main business is the production of mould tooling, jigs and fixtures and robot heads used in the injection moulding and die casting industries, principally the automotive industry, for internal and external trims, together with under bonnet components.
Its customers make products for a range of automotive manufacturers including Jaguar Land Rover, Nissan, Toyota, BMW and similar manufacturers.
Interested parties should contact Charterfields on 0330 202 0116.