Hampson Industries, the Brierley-Hill-based aerospace group is set to call in administrators after struggling with debts of £55m. Hampson, which makes tools used in the production of the F-35 Joint Strike Fighter, is expected to appoint Simon Kirkhope and Chad Griffin of FTI Consulting LLP as joint administrators later today.
The firm recently sold its entire share capital of BHW(Components) for £2.4 million as it looks to repay its debts. The firm had been up for sale as a whole but there was not much interest and the plans were shelved
Earlier this year Hampson Industries' shares were suspended after the company admitted it was not in a position to publish its annual accounts in the timeframe required by listing rules.