A car manufacturer has recently plunged into adminstration (Image: Getty)
Over the past week or so, several UK companies have collapsed into administration, including a TV manufacturer, a car company and an EV giant. Businesses have been really struggling this year, with high street retailers, food suppliers, airlines and more facing issues.
More than 100 businesses have filed for administration this month alone, according to noticed posted by The Gazette. Rising costs and reduced footfall are just a couple of reasons why companies may be struggling, being forced to call in help in the form of administrators. Here’s a round-up of all the latest ones you need to be aware of.
Read more: Iconic UK company plunges into administration – in business since 1809
Read more: UK giant TV manufacturer collapses into administration – in business since 2010
The LED Studio LTD
After 16 years in business, this British TV manufacturer has filed for administration. It created extra-large LED screens for commercial projects, including in retail spaces, stadiums, and public areas.
According to its website, LED Studio emerged as a global LED brand by 2019, “known as the industry’s best-kept secret”.
Andrew Watling and Michael Ian Field of Opus Restructuring will act on behalf of the business as it undergoes the administration process.
A car company has fallen into administration (Image: Getty)
Surface Transforms
This Merseyside-based automotive manufacturer has fallen into administration after more than 30 years in business. It had been fighting for survival after losing a major contract with General Motors, which previously made up around 84% of its revenues.
The company, known for producing high-performance carbon-ceramic brake discs used in supercars, had been looking for a buyer or investment as it was filing court notices.
However, it didn’t manage to secure an offer with any of the interested parties.
The Blue Sea Fishing Company
The UK’s largest crab kitchen has gone into administration. The business is reportedly registered in Paignton, Devon, and is dedicated to premium product quality.
At the moment, there is no statement on the company going into administration.
A UK freight company has also plunged into administration (Image: Getty)
Eagle One Delivery Limited
A major UK freight company has also entered administration. The business, based at Appleton Thorn Trading Estate, Unit 3G9 Lyncastle Way, Warrington, opened back in 2020.
There is no news on any jobs affected by the news right now. The company is said to focus on international transport, freight forwarding, shipping, warehousing and storage services.
Engineering Technology Group
After three decades in business, this UK company – which generated more than £13m in revenue – has collapsed into administration.
The business had supplied machines across the UK from its base in Warwickshire. According to its website, it is the UK’s “leading provider” of Computer Numerical Control (CNC) machines, a tool that automates precision cutting, shaping, and drilling of materials like wood, metal, plastic, and foam.
ZPN Energy Limited
Finally, this UK electric car charger manufacturer described as a “world leader” in the technology has fallen into administration.
The company designs and builds battery-backed DC fast chargers as the UK’s EV infrastructure expands.
ZPN says it uses patented ring topology technology to overcome major grid supply issues, allowing businesses to install twice as many chargers on their existing grid connection without expensive upgrades.
