Moorfields Appointed Administrators over Teknoflex Ltd the UK's largest supplier of flexible and flex-rigid multilayer circuits
Buyers are being sought for the UK’s largest manufacturer and supplier of flexible and flex-rigid multilayer circuits Teknoflex Ltd, which was placed into administration on Monday 14th January 2013.
The business, which operates in Sussex specialises in the design, manufacturing and assembling of flexible circuits and flex-rigid multi-layer inter connection systems to both the UK and overseas market with a particular focus on high technology, niche products for the defence sector. The business has traded for over 50 years with over 100 employees and has established key overseas trade in the US, France and Germany.
Simon Thomas and Shelley Bullman of leading insolvency and rescue firm Moorfields Corporate Recovery have been appointed administrators and are looking the sell the business as a going concern.
Simon Thomas, joint administrator at Moorfields Corporate Recovery, said: “Teknoflex is a leading UK manufacturer and supplier with a strong reputation for providing high technology, niche products to a specialised market. With over 50 years experience and high quality in-house design, assembly and test facilities the firm has a solid infrastructure in place that I am confident has potential both in the UK and overseas.”
Shelley Bullman, joint administrator at Moorfields Corporate Recovery, said: “We have seen a number of manufacturing businesses suffer in 2012 following difficulties in the eurozone. As a result the market suffered a period of decline. Unexpectedly the Markit/CIPS UK Manufacturing PMI(1) index showed an expansion in December 2012 leaving the industry optimistic about 2013.”
Interested parties should contact Moorfields Corporate Recovery on akendall@moorfieldscr.com or 0207 186 1144 .
(1) Markit/CIPS UK Manufacturing PMI News Release (2nd January 2013)
For media enquiries, please contact:
Katie Smith
Tel: +44 (0) 20 7186 1143
Email: ksmith@moorfieldscr.com
About Moorfields
Moorfields is one of the UK's leading independent firms of restructuring and insolvency specialists. Our highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations
Moorfields Corporate Recovery is proud to have been awarded Corporate Recovery Firm of the year at the Insolvency and Rescue Awards 2012
View all Our News