Historic Black Country business, Griffin Bros (Dudley) Ltd, has
gone into administration.
The firm, which dates back to 1898 and was led by the fifth
generation of the Griffin family, is now in the hands of joint
administrators Adrian Graham and Julian Pitts of the Sheffield
office of corporate recovery specialists Begbies Traynor.
Begbies Traynor was called in after the directors decided to
cease trading, making the entire 13-strong workforce redundant.
Based at 10 Wellington Road, Dudley, Griffin Bros (Dudley) Ltd
had a turnover between £600,000 and £700,000.
It manufactured pails, kegs and drums, bins and containers for
industrial use, particularly the automotive sector.
But at one stage it also supplied the wine trade and a host of
other industries, with customers across the UK. It had also built
up an export market for a number of products.
Mr Graham said Griffin Bros (Dudley) Ltd had been hit by the
difficult economic climate. "There was a downturn in the level of
business, squeezed margins and rising debts."
He said Begbies Traynor had been approached by a number of
interested parties - some keen to purchase the assets as a whole
and others eyeing only the buildings and machinery.
"We will be assessing these offers with a view to maximising the
return to creditors," said Mr Graham.
He added that the firm's accreditation with the United Nations
was a significant attraction for some inquirers.
It was in January 1898 that William and Moses Griffin founded
the business in their home town of Dudley. Initially the brothers
began manufacturing steel chimney liners and steel storage pans for
the nut and bolt industry.
Production began out of the backyard of their home which once
stood on the current 18,000 sq m site. From these modest beginnings
the company grew over the years and adapted the product range to
suit changing industrial demands.
Such was its success that manufacturing swallowed up most of the
homes and shops that once existed there.
Mr Graham said: "Given this heritage what has happened is very
sad. But it is an opportunity for others to take a good hard look
at the operation and consider the possibilities.
"Interested parties should contact me on 0114 268 3336 or email
adrian.graham@begbies-traynor.com."
For more information about Begbies Traynor, please visit their
website here: www.begbies-traynorgroup.com