Dozens of jobs have been axed after a Midland manufacturer became the latest victim of .
Burntwood-based specialist steel fabrications firm Aldridge Fabrications collapsed a week before Christmas, leaving jobs hanging in the balance.
A total of 82 jobs, out of a total of 140, have been made redundant as a result, although administrators managed to save 58 roles after agreeing the sale of parts of the business.
The company, which has been trading for more than 50 years, became the latest to succumb to pressure on the 海角视频 steel sector.
It follows huge job losses at the likes of Tata Steel and the collapse of Midland .
Aldridge Fabrications supplies specialist steel products to the mining and fabrications sectors, largely from four bases in Staffordshire.
Arvindar Singh-Sall of FRP Advisory, joint administrator along with Raj Mittal, said it was hit by the wider conditions in the sector, which has struggled to cope with a mass of cheap Chinese products flooding the market.
He said: 鈥淭he sale has secured the future of Aldridge Fabrications鈥 fabrications division and 58 jobs, ensuring a continuity of service to the business鈥 core customers who rely on the quality of its steel products. This transaction is particularly welcome to the regional Midlands economy amid the continued difficulties faced across the wider steel manufacturing sector.
鈥淲e wish all those involved in the fabrications supply division the very best under its new ownership structure.
鈥淭he company鈥檚 division supplying products for the mining industry was the latest to feel the squeeze from an industry which remains tough for all operators and suppliers.鈥
Aldridge Fabrications had operated from premises spread across the Midlands, including Mount Road, Burntwood, Chase Road and Coppice Side, Brownhills, and another in Stoke-on-Trent.
Upon their appointment, administrators immediately ceased trading at the company鈥檚 mining division, resulting in the closure of the Coppice Side site, as well as others in Merseyside and Hungary.
Administrators said the company鈥檚 turnover had declined for the past few years as the business was over-exposed to a contracting mining industry.
Mr Singh-Sall said this had resulted in 鈥渦nsustainable pressure鈥 on its cash flow.
He said administrators had been assisting claims with the Redundancy Payment Service.
In a statement, administrators added: 鈥淎ldridge Fabrications was restructured in order to try and ease cash-flow but the decline in income from the mining business was too severe leaving the company with no viable option for the business to continue as a going concern.鈥
Experts previously claimed up to 260,000 manufacturing jobs in the region are threatened by the country鈥檚 deepening steel sector crisis.
The steel sector has been badly hit by Chinese imports, while costs related to climate change regulations and business rates are higher than many rival nations.
collapsed last year and .
However, there has already been 2,200 job losses at the Redcar steelworks on Teesside, while Tata Steel confirmed it would cut 900 jobs from its plant in Scunthorpe, and 270 in Scotland, effectively ending steel making north of the border.
