TSP Engineering - Administration

TSP Engineering, a Workington-based heavy engineering business that has been trading since 1945, offering services across many sectors including defence, nuclear, oil and gas, renewables, steelmaking and construction, had its business purchased out of administration by Workington Engineering via a pre-pack deal.

The business has faced tough market conditions over the past 18 months, leading to increased financial pressure and debt. It said a historic lack of investment had contributed to its issues.

Iain Nairn and Sean Williams of Leonard Curtis were appointed joint administrators on 13 September, and immediately sold the business to Workington Engineering, saving all 160 jobs.

Bibby Financial Services has a registered charge against the company.