0800 644 6080
Call FREE from Landline and Mobile
Est. 1989

West Midlands Manufacturer Colson Castors Calls in Administrators

Written by: Keith Tully

Published: 6th January 2017

Manufacturing-Company-Entering-Administration A manufacturing operation trading as Colson Castors and Colson International has been entered into administration after being unable to maintain a viable financial position in recent weeks.

The two companies employ a total of around 80 people in the West Midlands but their future employment is now in jeopardy.

Primarily importers and makers of castor products for use in the retail, medical and industrial sectors, both Colson Castors and Colson International were well-established in their field and as an employer in the West Bromwich area.

However, it’s been revealed that the two companies’ parent firm, the Colson Group, has been required to provide funding to prop up what have now been loss-making businesses for the past several years.

“The Colson Group is no longer in a position to continue to fund these losses on an on-going basis,” a statement given on behalf of the companies has explained.

“Without access to funding the directors of the companies had no alternative other than to place the businesses into administration.”

Administrators have now been appointed to manage the financial affairs of both Colson Castors and Colson International, with no decision apparently having yet been made regarding the issue of redundancies at the two businesses.

“We will be urgently contacting potential interested parties, key customers and suppliers over the coming days whilst reviewing the position and assessing the options for the business,” the newly appointed administrators are quoted as saying by Insider Media.

“We are not announcing any redundancies at this time but we will need to keep this under review based on levels of support and any interest in the business.”

A large majority of the two companies’ workforce were employed at a single site in the Hill Top area of West Bromwich, with a small number of employees based at a separate site in Christchurch.

Losses were being recorded and financial problems weathered by Colson Castors and Colson International in recent months and years despite the fact that they collectively turned over more than £12 million during the full year to the end of December 2015. 

Keith Tully

Keith Tully

Join Keith Tully on Linked In Follow Keith Tully on Twitter

Keith has been involved in Business Rescue since 1992, during which time he’s worked for both independent and national firms. His specialties include company restructuring matters and negotiating with HMRC on his clients behalf.

Meet our Team of Experts
Director Support - Business suffering from Cash-Flow Problems?
If your company is financially distressed, we also offer the below services:
Business debt recovery

  • Recover Unpaid Invoices of £5k+
  • Expert Credit Control Services
  • Stop Late Payers & Bad Debts
Visit Site
Time to pay experts

  • Get Breathing Space with HMRC
  • Support with Business Tax Arrears
  • 35 Years HMRC Negotiation
Visit Site
UK Business Finance

  • Rejected for a CBILS Loan?
  • Get Emergency Business Funding
  • Supporting 1000+ UK Companies
Visit Site
Who we help
  • Company Directors
  • Finance Directors
  • Sole Traders
  • Accountants
  • Small Businesses
  • Large Businesses
  • Partnerships
Contact our team
Jonathan Munnery
Gillian Sayburn
Julie Palmer
or Find your Nearest Office

Here at Real Business Rescue we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See PRIVACY POLICY

Business Rescue Advice for Directors
Free Guide for Limited Company Directors
Business Rescue Advice for Directors
  • How to manage company cash flow problems
  • Advice on dealing with HMRC
  • Understanding rescue and closure options
  • And much more...
Free Guide Download
Dealing with your Insolvent Clients
Business Rescue Guide for Accountants
Dealing with your Insolvent Clients
  • Helping you advise insolvent clients
  • Spotting signs of client distress
  • Exploring business rescue options
  • And much more...
Free Guide Download
Our numbers speak for themselves
Number of UK Offices
Directors Helped
Licensed Insolvency Practitioners