Sixty jobs lost after Aldridge brass firm collapses as saddle company axes seven
Sixty jobs have been lost at a brass firm after it collapsed just before the new year – while seven staff have been axed at a historic saddle firm.
McKechnie Brass, in Aldridge, Wasall, had been operating for 142 years before its collapse.
Its loss was today described as 'very sad' by Walsall Council leader Mike Bird, who said the Middlemore Lane firm was one of the best known metal businesses in the area. Meanwhile, historic saddle maker Jabez Cliff and Company, which trades as Barnsby, has announced seven redundancies from its sales, office, factory and warehouse departments.
McKechnie Brass is in the hands of administrators from Birmingham's Duff & Phelps, who were appointed earlier this week.
Only 15 of the workers remain employed at the business, which makes brass rods and copper wires for building, engineering and electrical industries. Administrators are talking to a couple of interested parties and are hopeful of selling the business and its assets in the near future.
The company had previously gone into administration in 2011 but was rescued after private shareholders secured £6.5 million funding.
Since then it has been hit by rising scrap brass prices over the last year.
Councillor Bird said brass and copper prices were at an all-time high.
"This is an example of where the world market is affecting businesses here in Walsall," he said.
He added: "They are synonymous with Aldridge. I hope that they will quickly find a buyer."
Meanwhile, bosses at saddle firm Barnsby, in Aldridge Road, are confidfent they can grow profitably this year despite making cuts. As well as the seven job losses, self-employed saddle fitters also risk losing their company vans. But the firm has now agreed a Company Voluntary Arrangement, meaning creditors have agreed to reduce their debts with the firm to manageable levels.
