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LFE Materials Handling enters administration 25 March 2009

The company was forced into administration as a result of a significant bad debt, leading to working capital problems. LFE Materials Handling Limited turns over approximately £2m per annum and employed 29 staff at its base in Coventry. Unfortunately, as a result of severe cash flow pressures, the administrators were forced to make 11 staff redundant on 18th March.

Commenting on the case, Beverley Marsh said: “To ensure we were able to continue to trade the business, which we are now doing, it was sadly necessary to make a number of redundancies. We are now also carrying out targeted marketing activity to secure a sale of the company. We have received very positive comments from customers and have already had expressions of interest from a number of parties, including the existing management team.”

 

 

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