Richmann Walsh Engineering Limited (01139514): administration
- Status
- Administration ended
- Administration began
- 2022-07-20
- Administrators' firm
- Begbies Traynor
- Formerly
- R.L. Walsh & Sons (Coventry) Limited
- Incorporated
- 1973-10-15
- Location
- Birmingham
- Industry
- 29320 Manufacture of other parts and accessories for motor vehicles
Why it went into administration
- Sustained trading losses
- COVID-19
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Supply chain disruption
- Cash flow / liquidity pressure
- Bad debts / customer insolvency
From the administrators' statement
Richmann Walsh Engineering Ltd (RWE) is a precision machining, gear cutting and assembly business, established since 1968, originally as a toolmaking company which has evolved over the years gaining a renowned reputation as a specialist component manufacturer and bespoke engineering service provider.
The Company serviced a range of sectors such as automotive (including the motorsports sector), agricultural, truck, military, yellow goods, and bus industry, supporting FMCG and high throughput processing customers with engineering and breakdown recovery solutions.
-3The freehold at the trading premises located at Lythells Road was acquired from Coventry City Council in 2011. The business was transferred from its founder to his sons in 1995. There had been a gradual decline in sales and size of the workforce had also reduced during this period.
Administrators' statement of proposals (2022-09-07) · Companies House register