Administrators from Grant Thornton have been called in at manufacturer
Humbrol, the parent company of Britain’s last model-maker, Airfix, which has now
gone out of business.
Grant Thornton was forced to make 31 redundancies out of a total workforce of
41 at the Hull-based company.
The company had suffered trading losses for several years and had brought in
a new management team in December 2005 to restructure the business.
Severe cash flow pressures and disruption to supplies after the insolvency of
its main manufacturing supplier, Heller, in France brought manufacturing life to
an end, after Airfix starting out in 1949.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children