A 200-year old copperworks based in Staffordshire has entered administration, putting 110 jobs at risk.
Thomas Bolton Limited, the only British producer of copper and copper alloys, was placed into administration after experiencing “short term cash flow difficulties”.
Graham Wild, Andrew Palmer and Anne O’Keefe of Zolfo Cooper LLP were appointed joint administrators of the company on 24 March 2014.
The administrators have confirmed the company will continue to trade while it is marketed for sale as a going concern.
Wild, partner at Zolfo Cooper, said: “We believe the company is an attractive proposition to a range of potential buyers given its expertise and excellent product range.
“We welcome expressions of interest from third parties to acquire the business as a going concern. We would also like to thank the staff for their continued support and professionalism during this process.”
Thomas Bolton has also experienced non-financial setbacks in the recent past. In 2012 an employee was injured after being struck on the head by a metal peg.
Following the Health and Safety Executive investigation, the company was reportedly fined £19,050 and ordered to pay £10,361 costs.
Earlier this month, an explosion at the company’s factory site in Froghall, Stoke-on-Trent damaged premises.