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Thursday 31 January 2013

SFP appointed administrators to Goodwood Metalcraft Limited

The nationwide insolvency practitioners SFP has been appointed Administrators to Chichester-based mechanical engineering specialist Goodwood Metalcraft Limited after the firm encountered financial difficulties.

Founded in 1960, Goodwood Metalcraft Limited produces stainless steel components including the fuel tanks for car manufacturer Lotus, and has capabilities in all forms of quality press work, including deep drawing, flow forming, spinning, machining and bespoke fabrication, all in a wide variety of materials. It has an annual turnover of £2 million and employs 39 people.

SFP's Simon and Daniel Plant - both licensed members of the Insolvency Practitioners' Association - were appointed Joint Administrators by the Board of Directors on 2nd January 2013, after the company experienced cash flow problems and was unable to service its liabilities.

Daniel commented; "We have been trading the company over the course of the last few weeks in the hope of finding an interested party willing to purchase the business and assets on a going concern basis.

"The Company is still continuing to trade albeit now with a significantly reduced workforce to maintain some element of goodwill and complete a number of orders. We are still in discussions with a number of potential buyers."

At Springfield Pressings we are able to do all of the work that Goodwood Metalcraft Limited could, and you can get an idea of our work by looking at the below image.

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