Samuel Groves, one of the West Midlands longest-established manufacturers dating back nearly 200 years, has been saved from collapse following a rescue deal.
The cutlery and catering materials maker, part of the troubled Metalrax empire, has been salvaged after collapsing into insolvency – safeguarding 40 jobs.
An overall total of 126 workers have been thrown a lifeline with the sale of Metalrax Housewares, whose operation in Oldbury trades as Samuel Groves.
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The Samuel Groves name dates back to around 1826 and for nearly two centuries has been supplying the catering trade from its base in the West Midlands. More recently, it moved to Oldbury from premises in Birmingham’s Jewellery Quarter.
It has been supplying goods – including aluminium baking trays and cake tins – under the Mermaid trade name since the 1950s and also sells materials under the Lifelong brand.
The sale of the historic company follows the appointment of Paul Flint, Brian Green and Will Wright from business advisers KPMG’s Restructuring team as joint administrators.
KPMG announced that the firm had been sold to Omeida International Ltd, a subsidiary of Everyware Global Inc, international manufacturer of tabletop and food preparation products for the consumer and foodservice markets.
The pre-pack deal has secured the jobs of Metalrax Housewares’ entire 126-strong workforce based in Oldbury, Burnley and Fakenham, Norfolk.
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Paul Flint, Joint Administrator and Restructuring Partner at KPMG, said: “Metalrax Housewares entered administration as a result of a continued downturn in trading and difficulties in meeting its debt obligations.
“Following comprehensive marketing of the company, we were able to secure a going concern sale, safeguarding the future of its 126 employees and two historic businesses in George Wilkinson and Samuel Groves.”