Mckechnie Brass Limited (07773851): administration
- Status
- Administration ended
- Administration began
- 2013-12-30
- Administrators' firm
- Kroll
- Formerly
- HC 1169 Limited
- Incorporated
- 2011-09-14
- Location
- Birmingham
- Industry
- 24450 Other non-ferrous metal production
Why it went into administration
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
- Credit insurance / supplier credit withdrawn
From the administrators' statement
Statutory information on the Company and a summary of its financial history ts included at Appendix 1
The Company was a producer of extruded and rolled brass profile and billet The business was founded in the 1870s and had been operating from its leasehold site in Middlemore Lane, Aldridge, since the 1950s The business had been owned by a number of international groups over recent decades The previous company operating the business, MBL Realisations Limited (formerly Mckechnie Brass Limited), was placed into Administration on 27 June 20141
As an outcome of the earlier Administration, the business and assets were sold to the Company on 28 September 2011 The new owners succeeded in increasing the turnover of the business through winning new work both from the UK market but also from exports Investment was also made in additional equipment including a Schumag combined drawing machine at a cost of over £0 4 million The new owners invested over £1 0 million in the business during the fifteen month period to 31 December 2012 and a similar amount during 2013
Administrators' statement of proposals (2014-02-25) · Companies House register