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Chamberlain starts insolvency process

2025-03-18 17:17:07 By

A Black Country engineering group has commenced a liquidation process which could threaten around 160 jobs.

Walsall-based specialist castings and machining group Chamberlain said the move had come following a winding-up notice being issued by the company's main power supplier.

In a statement to the stock exchange, the listed company said discussions had been ongoing with its creditors and major shareholders about its plight.

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It said: "Despite the cost-reduction actions and wholesale customer price increases implemented across the group, the group is under increased pressure from other creditors and its bank, has lost further sales revenue and is unable to secure additional funding of the scale and form required.

"The board of directors has therefore regrettably resolved to commence an insolvency process. Further announcements will be made in due course as appropriate."

This latest development follows the announcement on May 7 that Chamberlin was suspending trading its shares on the AIM exchange.

Chief executive Kevin Price added: "Following the company's announcement on May 7 and the subsequent discussions with creditors, customers and shareholders, we do not have a funding solution that provides the necessary liquidity in the time we have available.

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Manufacturing2025-03-18 17:17:07

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Manufacturing2025-03-18 17:17:07

Pharmaceutical manufacturer Pharmaron's Cramlington base set for investment despite losses

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Manufacturing2025-03-18 17:17:07

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Manufacturing2025-03-18 17:17:07

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Manufacturing2025-03-18 17:17:07

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Manufacturing2025-03-18 17:17:07

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Manufacturing2025-03-18 17:17:07

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Manufacturing2025-03-18 17:17:07

Plastic parts manufacturer merges with 100-year-old firm

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Manufacturing2025-03-18 17:17:07

Cranswick hails recovery in demand leading to higher earnings

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Manufacturing2025-03-18 17:17:07

Stelrad warns of slowing sales but sees signs of recovery in core countries

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