Atlantic Steel Processing Limited - Administration

Atlantic Steel Processing Limited, a Birkenhead docks-based steel firm, entered administration on 3 May.

The company, which specialised in steel decoiling, supplied steel products across the UK and Ireland.

After operating for a couple of decades, the company suffered a reduction in demand which resulted in cash flow difficulties and impacted its ability to operate.

An accelerated M&A process failed to result in a going concern offer, and Richard Goodall and Martyn Rickels of FRP Advisory were appointed joint administrators.

Most of the company’s 41 employees have been made redundant.

Close Brothers, Matthew Peter Ford and Hsbc Bank have registered charges against the company.