13 jobs saved at a Somerset engineering firm
Corporate recovery specialists Quantuma have been able to save 13 jobs at a Somerset engineering firm.
Quantuma partner Carl Jackson and director Simon Campbell were appointed administrators to Caged Laser Engineering (Frome) Ltd on 14 March and immediately set about finding a solution to the company’s problems.
The business, which traded from Unit A4 to A5, Commerce Park, Frome, had been hit by a number of issues – contracts that turned out to be unprofitable and bad debts.
The company provided precision-engineered parts, components and finished products via a wide range of high quality engineering services.
Carl Jackson said: “With a turnover of just under a million this was just too big a hit to take and the directors were forced to seek advice on a way forward.
“I am pleased to say that we have been able to sell the business and assets to a new company, Caged Laser Assets (SW) Ltd and all 13 employees of the original business have been offered jobs.”
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For further information, please contact:
Andy Skinner, Managing Director, ASAP PR – 07990 978257
Marie Wadeson, Head of Marketing,
Quantuma LLP, Vernon House, 23 Sicilian Avenue, London, WC1A 2QS
Tel: 07464 545678
Notes to Editors
Quantuma LLP is a leading restructuring and insolvency practice delivering partner-led solutions to businesses and individuals facing financial distress with offices in London, Southampton, Marlow, Watford, Brighton and Bristol.