Jobs lost as Black Country forging firm enters administration
About 30 jobs have been lost after 200-year-old forging firm George Dyke Ltd entered administration.
Administrators have been appointed of the Darlaston-based firm and are now seeking a buyer for the business.
The company supports a strong portfolio of blue-chip customers and operates from premises at Imperial Works, Heath Road.
Partners Raj Mittal and Tony Barrell from FRP have been appointed joint administrators.
FRP has said the company has faced severe cash flow issues in recent weeks following a period of "challenging trading conditions", which led it to enter administration.
Following their appointment, the joint administrators are now marketing the business for sale as a going concern as they continue to trade.
The remaining 43 employees have been retained to help the business to continue to trade.
Mr Mittal said: "George Dyke is a renowned forgemaster that is well-respected by its clients and has a strong heritage in the West Midlands.
"We have received a number of expressions of interest from prospective buyers, and would urge any other interested parties to contact us as soon as possible.
"Our priority is to ensure minimum disruption for employees and customers, while ensuring we can maximise returns for creditors, and I’d like to thank the firm’s employees for their continued support throughout this process."
George Dyke has become the second historic firm based in the Walsall borough to enter administration this month.
Architectural products business Laidlaw, which has its headquarters in Willenhall, has made 49 out of 61 employees redundant after experiencing cash difficulties as a result of delays to key projects.