Rimstock Limited (01879593): administration
- Status
- Administration ended
- Administration began
- 2023-07-05
- Administrators
- Christopher Robert Pole, Ryan Kevin Grant
- Administrators' firm
- Interpath Advisory
- Formerly
- Rimstock PLC
- Incorporated
- 1985-01-22
- Location
- Birmingham
- Industry
- 24420 Aluminium production
Why it went into administration
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
2.1. + Background information
The Company was incorporated on 22 January 1985 and engaged in the manufacturing of forged alloy wheels for automotive customers and the premium aftermarket. The Company is based in West Bromwich operating from long leasehold premises located off Ridgacre Road, West Bromwich. As at the date of appointment, the Company employed 78 members of staff.
Historically, the Company was a manufacturer of cast wheels to the aftersales market. In 2016 the Company was acquired by Safanad and Current Capital Wheels LLC, together with an individual investor, David Roberts. Following the acquisition, the business was transformed into a leading manufacturer of forged alloy wheels to premium automotive OEMs in Europe. In 2022 the Company manufactured and sold c.19,000 wheels.
Administrators' statement of proposals (2023-08-23) · Companies House register