Mitchell Charlesworth helps save 163-year-old local manufacturing business


Mitchell Charlesworth's Corporate Recovery and Insolvency team have helped to save 16 jobs at an historic manufacturing business after securing its sale out of receivership.

Jeremy Oddie, Paul Palmer and Julie Beavis were appointed joint administrative receivers of Salford-based William Eagles Limited on 23 October 2013.

CR&I Team

Mitchell Charlesworth's Corporate Recovery &
Insolvency Team L-R Jeremy Oddie, Julie Beavis,

Matthew Holt & Paul Palmer

William Eagles is a 163-year-old maker of fire fighting equipment and also assembles pressure-regulating valves for marine, petrochemical and offshore applications.

The joint receivers have traded William Eagles, which was founded in 1850, since their appointment last year and secured a sale of the business and assets on 5 February 2014 to Wrekin Shell Mouldings Limited.

Based in Telford, Shropshire, Wrekin Shell Mouldings is a foundry producing complex castings using the highly specialised shell moulding process.

The new business will trade as Wrekin Shell Mouldings Limited incorporating William Eagles.

Mitchell Charlesworth’s Jeremy Oddie, Joint Administrative Receiver, said: "I am pleased to announce the sale has not only saved 16 jobs in the Salford area but has also secured the future of a long established business.

"It is a major accomplishment to secure a buyer for the business in what has been a difficult sector for many years. We wish the team at William Eagles and their new owner, Wrekin Shell Mouldings, the best of luck in the future following the buyout deal."

Paul Palmer, Joint Administrative Receiver and Mitchell Charlesworth Associate was responsible for the ongoing trade.

He added: "I would like to thank all the current staff of William Eagles for their continued support and hard work through these difficult times. Without them, the business could not have continued to trade and a successful purchaser been found."

 

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