MORE than 40 jobs have been lost at a business in Wrexham after they entered administration.
Patrick Lannagan and Richard Hough of Forvis Mazars LLP were appointed Joint Administrators of Malpas Tractors (Wrexham) Limited (“the Company”) on December 16.
The decision comes following "cash flow difficulties", with 43 jobs redundancies being made on Wednesday (December 18).
The business, which is based in Wrexham and has a depot in Denbigh, was established in the 1960s in the farming sector later diversifying into the sale, maintenance and repair of agricultural machinery.
The company employed 69 staff and operates from its head office premises on Wrexham Industrial Estate, and from sites in Lathom, Holmes Chapel, Denbigh and Conder Green.
Richard Hough, joint administrator and director - Corporate Restructuring at Forvis Mazars, said: “The company has experienced cash flow difficulties resulting from difficult trading conditions in the sector.
"These cash flow difficulties have led the directors to take the difficult decision to place the company into administration.
"The administrators are continuing to keep the financial position of the company under review, regrettably having had to make 43 redundancies today, with the business now operating with a reduced workforce whilst we explore any interest any potential buyers may have in the business.
"We will be writing to all creditors over the coming few days but would encourage anyone with an interest in acquiring the business and/or assets to email at malpastractors@mazars.co.uk”.
Share