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Head of business recovery and restructuring at PKF Smith Cooper Dean Nelson has overseen the sale of JLC Form and Laser Ltd to Savekers Solutions Ltd, securing all existing staff positions.
The business and assets of the West Midlands-based company were sold following the appointment of Nelson, head of business recovery and restructuring at PKF Smith Cooper, as administrator.
The transaction allows for the continued trade of the firm, which specialises in laser cutting and sheet metal fabrication.
JLC Form and Laser Ltd had faced financial difficulties since 2020, following a decrease in turnover during the pandemic.
Subsequent increases in steel prices and supply chain constraints linked to the conflict in Ukraine led to unsustainable cashflow pressures and arrears with creditors.
The company has operated for 27 years, supplying fabricated products to a range of industries nationwide.
The sale to Savekers Solutions Ltd was completed shortly after the formal appointment of the administrator.
Nelson said: “I am delighted with the outcome we have achieved for the team at JLC Form and Laser; it is rewarding to secure all jobs and the future for the business.
“Seeking specialist support as early as possible when your business is struggling is the key to a successful outcome for you and your team. We wish the very best for the team going forward into this next chapter.”
