FRP ADMINISTRATORS have been appointed to electronics manufacturer Controlled Speed.
David Thornhill and Geoff Rowley, (pictured) both partners at FRP Advisory, were appointed joint administrators to the West Yorkshire-based business which has now ceased trading.
The manufacturing site employed 38 people with all but three made redundant.
Thornhill said: “The company has been experiencing cash flow difficulties over the last few months and management has been involved in discussions with a number of parties in recent weeks with a view to a sale of the business. That has so far not been possible, although discussions are on-going.
“While the position remains under review, we have unfortunately concluded that the company is not in a financial position to continue to trade. As result, all but a small skeleton of staff have sadly been made redundant.”
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