Group ceases trading

Joint administrators from Mazars were appointed to Almor Group, which has its headquarters in Nottingham and was formed in 1992.

The group includes Almor Wellman in Tipton. The group bought the former Wellman Furnaces at Hale Trading Estate, Lower Church Lane, in 2015.

The group also has a site in Huthwaite, Nottinghamshire.

The majority of the firm’s workforce of around 80 have been made redundant since the appoint ment of the administrators on July 8.

The joint administrators said that Covid-19 created a “challenging operating” environment with turnover reduced by two-thirds.

The company has struggled to recover to pre-pandemic levels of work.

Given the cash flow difficulties, the directors decided that the company had to be placed into administration.

The joint administrators are seeking a buyer for the company’s assets.

Scott Bevan, joint administrator and partner at Mazars, said: “We are sorry to see a historic business in the Midlands like Almor Limited cease trading. The business had traded very successfully for many years but suffered from the devastating impact of Covid-19, which has ultimately resulted in the directors taking the difficult decision to enter administration.

“Once the conclusion was reached that the business was no longer viable, the directors were keen to act quickly and appoint administrators to prevent the position for creditors worsening. Despite seeking interest in the business prior to entering administration, no buyers were forthcoming, leaving the Directors no option but to cease trading. We are working closely with the company and its key stakeholders, and we hope to find a buyer for the company’s assets.”