The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24 - Manufacture of basic metals
157 jobs Number of planned job losses
Announcement Date
2 February 2015
Employment effect (start)
2 February 2015
Foreseen end date
2 February 2015
Description
Yorkshire-based manufacturers MTL Group have entered administration, resulting in the loss of 157 jobs. The company, which is based in Rotherham, manufactures metal products and employed 303 people. Administrators had been appointed due to the company's struggles with cashflow and issues relating to a large defence contract. On appointment, the administrators took the decision to make 157 staff redundant. 146 staff are being retained while a buyer for the company is sought. Historically the company has been profitable and there are hopes that a buyer for the business can be found.
Sources
2 February 2015: Yorkshire Post
Citation
Eurofound (2015), MTL, Bankruptcy in United Kingdom, factsheet number 78542, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/78542.
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