Fight to rescue Metnor M&E specialist Norstead fails

The £20m turnover business, which operated out of its offices in Newcastle-upon-Tyne and Maidenhead, had suffered from financial challenges in recent months because of inflationary pressure on its profit margins.

In the last few weeks, directors have been desperately searching for a buyer for the business and assets of the industrial and commercial M&E business.

But without any viable offers and the prospect of a sale as a going concern, the directors filed for administration more than over a week after sister company Metnor Construction collapsed.

Norstead’s 52 staff have now been made redundant as the business fell into administration this week.

Steven Ross, Partner at FRP and Joint Administrator, said: “The directors launched an accelerated sale process, but without any viable offers, it was not possible to save the business, which has now ceased to trade.

“Regrettably, this also meant staff were made redundant prior to the administration. We’re now supporting impacted staff and preparing for an asset sale.”


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