Two manufacturers based in Tuxford, Nottinghamshire, Dosco Overseas Engineering Limited and Hollybank Engineering Co Limited, went into administration on 30th January.
Eddie Kerr and Ian Gould of BDO were appointed joint administrators and are seeking a buyer as a going concern for the companies. Unfortunately, 55 employees were made redundant at Dosco Overseas Engineering before the company went into administration.
Dosco specialises in the production of mining equipment while Hollybank manufactures support equipment and special systems for the mining industry. Difficult trading conditions and a drop in orders resulted in both companies struggling financially.
Both companies are continuing to trade while they find buyers.
In Bristol, a vehicle and control systems manufacturer, Avon Barrier Company, has also fallen into administration. Joint administrators, Robin Allen and Richard Hawes of Deloitte are looking for a buyer while the business continues to trade. All 41 employees have been kept on with no redundancies at the present time.
Although the company may come to an end, administration can ensure the business survives if a buyer can be found. During the process, the company is also protected against legal actions and threatening creditors.
We are not involved in the administration and questions should be directed to BDO or Deloitte who are handling the administration.
If you are an employee of the business, and you’re worried about what might happen in the future, then please listen to the video below as it will tell you your rights as an employee of a insolvent business. There is a link at the end of the video to the Government website which expands further on what you need to know.
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