50 jobs lost as historic Walsall firm collapses
A metal casting company that specialises in handmade ironmongery has gone into administration with the loss of 50 jobs.
Walsall-based Kirkpatrick, which dates back to 1855, called in administrators following a period of sustained trading difficulties.
The coronavirus outbreak has seen the temporary closure of many of the company’s markets and customers and it had stopped trading and laid off all staff on March 24.
Andrew Turpin and Matt Hardy of Poppleton and Appleby have been appointed as joint administrators of the firm which is based in Frederick Street.
The business was originally founded by William Kirkpatrick and was incorporated in 1901.
Kirkpatrick, which had an annual turnover of around £1.65m, had suffered a recent downturn in trading.
Administrators say a combination of a declining order book, increased overseas competition, economic uncertainty and a reduction of funding support has hit the business hard to the point where the current management could see little prospect of any significant upturn in the near future.
The management team had tried to utilise Covid-19 financial support put in place by the Government but this was not available quickly enough to help the company and the decision to appoint administrators was taken.
Mr Turpin said: “This is a sad day for all involved in the business but reflected the difficulties being faced by many industries at present. It is particularly sad for a business of this longevity and tradition which is the last manufacturer of black ironmongery in the UK.
“Regrettably, the company is unable to continue trading in the current climate but there remains a current order book and it is our intention to explore all the options open to us, which include the possibility of achieving a sale of the business and assets.
“Any parties interested in the business should contact Mark Monaghan at my office on 0121 200 2962 or my agent James Acton at Gordon Brothers on 0121 213 6280.”
