Firber Engineering Limited – administration

Firber Engineering Limited, a Nottinghamshire designer and manufacturer of steel waste and recycling containers, entered administration on 23 November. Simon Chandler and Scott Bevan of Mazars, who were appointed joint administrators, explained that the Covid-19 pandemic affected sales patterns, resulting in diminishing profit margins. More recently, the shortage of and significant increase in the cost of steel due to the war in Ukraine caused significant cash-flow issues. The joint administrators are now seeking a buyer for all some of the company’s assets. All 29 workers have been made redundant. Close Brothers Limited has a registered charge against the company.