Staffordshire based waste handling equipment SME manufacturer, the Boughton Group, which dates back over a century, has fallen into administration.
The Group, with a £7m annual turnover, employs around 70 people from sites in Barton-under-Needwood site in Staffordshire and a secondary location in Winkleigh, Devon. It trades under the name Reynolds Boughton Ltd, having been first established in 1897.
The company fell into financial trouble during recession due to a lack of sales and although a Company Voluntary Agreement was accepted by the majority of its suppliers it was rejected by HM Revenue and Customs.
The skip and hook loader maker will trade as usual while administrators Baker Tilly restructuring and Recovery LLP seek a buyer.
Commenting on the Administration, Baker Tilly’s Graham Bushby said, “Having an established reputation for quality, proprietary products and strong order book, The Boughton Group is an attractive proposition for interested buyers.
“Unfortunately, the Administration was a necessary step after the rejection of the CVA and although we are hopeful for a sale of the business very regrettably we envisage that that there will be some job losses.”
Anyone interested in buying the group can contact Graham Bushby at Baker Tilly on 0121 214 3100.