The business and assets of Coupe Foundry Ltd in Preston
have been sold out of administration, securing the jobs of all 80 staff.
Coupe Foundry has traded for over 100 years with the
original directors undertaking a takeover of the business in 2004. The castings
manufacturer has established a strong reputation and is the UK’s largest
jobbing foundry, supplying cast iron, ductile iron, alloyed irons
and steel castings to a wide and varied customer base throughout
Europe.
The business was placed in the hands of joint
administrators Jason Elliott and Craig Johns of Cowgill Holloway Business
Recovery on 27 January 2014. Following appointment, administrators continued to
trade the Foundry while conducting a full marketing exercise to find buyers for
the business, and a sale to a new company to be known as Coupe Castings Limited
was completed 10 days later. The new company is co-owned by Shakespeare
Foundry, a well-established North West business, which will complement the
offerings of Coupe Castings, and Eaves Machining Ltd,
a former customer of Coupe Foundry Ltd.
“This is a well-established business with a loyal customer base which
has been faced with extremely challenging
trading conditions,” explains joint administrator Jason Elliott.
“Not only are we delighted to have been able to achieve a sale of the business
but additionally, the combined experience and knowledge of this sector that the
purchasers bring should ensure a long term viable future for the business and
its employees, which is great news for its staff and customers.”
Disclaimer
The information was correct at time of publishing but may now be out of date.
