The slowdown in the oil and gas industry has seen a Staffordshire manufacturer go into administration. Around 20 jobs have been lost with the closure of Rowe Precision & General Engineers (www.rowe-engineering.co.uk), a Stone-based Rolls-Royce sub-contractor that has been trading for nearly 40 years. The business was put up for sale before it went into administration earlier this month.
The administrators, Alan Coleman and Julie Webster, of Royce Peeling Green, received 30 enquiries but they said that a deal was not possible and the entire workforce have now been made redundant. Mr Coleman said, “We initially received a high level of interest for both the business and assets. Despite the company having a loyal and highly skilled workforce, its TUPE (transfer of undertakings protection of employment regulations) liability did put off some interested parties. It was a real shame that a purchaser for the business could not be found.”