The business and assets of JLC Form and Laser Ltd have been sold to Savekers Solutions Ltd, saving 11 jobs.
The deal was assisted by Dean Nelson (pictured), head of Business Recovery and Restructuring at PKF Smith Cooper.
Operating nationwide from a leasehold site in the West Midlands, JLC Form and Laser Ltd is a family run business, with over 27 years’ experience in the industry.
The company delivers high precision components and fabricated products to customers across the country and specialises in the laser cutting and fabrication of products for a range of industries.
In early 2020, JLC Form and Laser Ltd faced decreased turnover and operational activity due to COVID-19 restrictions and in 2021, the business was significantly impacted by material increases in steel prices.
The outbreak of war in Ukraine in 2022 further contributed to supply constraints in European steel markets, increasing arrears with creditors and suppliers, with cashflow pressures becoming unsustainable.
Dean Nelson was appointed administrator prior to the completion of the business and asset sale.
He said: “I am delighted with the outcome we have achieved for the team at JLC Form and Laser; it is greatly rewarding to secure all jobs and the future for the business.
“Seeking specialist support as early as possible when your business is struggling is the key to a successful outcome for you and your team.
“We wish the very best for the team going forward into this next chapter.”
