More than 70 jobs at Telford firm 'saved' by sale out of administration
Administrators who were called in at a Telford plastic moulding company have confirmed that 72 jobs were saved.
International audit, tax and advisory firm Mazars was appointed as administrators of LVS Small Plastic Parts Ltd which was "experiencing cash flow difficulties."
The family business had been incorporated in 1974 and is a fabricator of a range of bespoke plastic injection moulded components.
A spokesperson for Mazars said: "A sale of the company’s business and certain assets was achieved on June 5, 2023.
"The sale preserved 72 jobs and represented the best outcome to creditors as a whole."
The spokesman added that the company had been experiencing cash flow pressures created by a combination of funding restrictions and continued cost inflations
