Metal tubing manufacturer Ferschl Tubeform Limited has entered into administration with the loss of 44 jobs.
The Peterlee-based firm called in administrators from Baker Tilly Restructuring and Recovery earlier this month following six years of losses.
As part of the Ferschl stable, which also includes Gateshead-based Ferschl Hose and Hydraulics and Middlesbrough-based Northern Hose and Hydraulics Cleveland Flexible Engineering, Ferschl Tubeform had been supported by the group.
Administrators Ian Kings and Steven Ross said such support had become unsustainable and confirmed it was not possible to sell the company as a going concern.
Following the pair’s appointment to the business on March 11, the 40,000 sq ft operation on the South West Industrial Estate was closed.
A statement from Baker Tilly said: “It was not possible for the administrators to sell the company as a going concern. As a result, the company has ceased to trade and regrettably 44 staff members have been made redundant.”
Ferschl Tubeform was formed in 1987 as a supplier of metal tube and pipe-based components, products and sub-assemblies to the global heavy construction vehicle and materials handling industries.
The company’s products are used for a variety of purposes including high pressure fluid transfer systems exhaust gas handling and structural support.
From the Peterlee base, Ferschl Tubeform also manufactured a range of handrails using carbon steel, stainless steel and aluminium.
Ferschl Hose and Hydraulics Ltd was formed in 1971 as the first in the Ferschl group. It initially supplied stainless steel flexible hoses to British Steel.
Cleveland Flexible Engineering was acquired by the group in 2001, manufacturing stainless steel flexible hoses with the added capability of stainless steel welding.
The Journal contacted Ferschl Tubeform but the company did not want to comment on the administration.