A UK-based engineering firm has collapsed into liquidation after more than 50 years in business. Rodmatic Ltd, known for manufacturing specialist fasteners and screw machine products, entered voluntary liquidation at the end of last month, according to The Gazette. The firm, which traded from an address in Reading, Berkshire, resolved to wind up its operations after a general meeting in February.
Margaret Carter and David Griffiths of bk plus Limited were appointed as joint administrators and will oversee the firm’s assets as the liquidation process begins. Rodmatic aimed to act “not only as a supplier, but as a true manufacturing partner” to its customers by offering “the most cost-effective manufacturing solution and exceeding expectations in relation to quality, delivery and service,” as per its website.
A mission statement added: “At Rodmatic, we have more than half a century’s experience of working with machining technology to serve the fluid power, medical, specialist automotive and other sectors.
“A lot has changed in engineering in the 50 years that Rodmatic has been in business. Our ability to adapt to those developments has been the main factor in our continued success.”
In recent months, however, businesses across the UK have struggled to cope with higher material and labour costs, with ongoing economic uncertainty also causing tighter margins and project delays.
Industry bodies have warned that insolvencies in the sector remain elevated compared to pre-pandemic levels, with smaller regional firms left particularly exposed.
Cheshire-based engineering contractor Gilks of Nantwich was one of several to fall into liquidation last month, leaving 60 staff members redundant.
Liquidation typically means a business ceases trading and its assets are sold to repay creditors, unlike administrations, where efforts might be made to rescue the business or secure a sale.