Meddings Thermalec Limited - Administration

Meddings Thermalec Limited, an almost 100-year-old Devon-based machine building firm, entered administration on 12 June, with Michelle Weir of Lameys appointed administrator.

In recent years, the company has struggled with decreasing sales, increasing overhead and growing overseas competition.

Shortly before the COVID-19 pandemic, the company invested in its engineering machinery and metal fabrication divisions, but the sales boost the company was expecting never materialised due to the onset of the pandemic.

The administrator also cited a lack of investment in the company’s core product lines as a key issue, saying this led to a “sustained reduction in sales” and the business beginning to incur “substantial losses”.