Engineering company goes into liquidation

A precision engineering company based in Portslade has gone into liquidation, leaving all 16 members of staff redundant.

Monday, 3rd April 2017, 12:50 pm
Updated Tuesday, 9th May 2017, 6:46 pm
C P Mechanical Designs Ltd has gone into liquidation

C P Mechanical Designs Limited, which was first registered at an address in Goring Road, Worthing and is now based on Wellington Road in Portslade, has stopped trading after it called in insolvency and restructuring experts from CVR Global earlier this month.

David Oprey and Elias Paourou, partners at CVR Global’s Hove office, were appointed joint-liquidators on Wednesday, March 1.

Mr Oprey said: “C P Mechanical Designs Limited is a long established company trading as precision engineers and in recent times had suffered a significant loss of business.

C P Mechanical Designs Ltd has gone into liquidation

“This downturn, along with the company having an ageing workforce and no succession in place, unfortunately meant the business had no prospect of continuing to trade and sadly all 16 staff have been made redundant.

“We are in the process of organising an auction sale which will be held in April to sell off the company’s remaining assets.”

One of the employees said the company was a ‘well-known’ Shoreham Beach company, having started in Harbour Way.

The employee, who wished to remain anonymous, said: “We’ve been very upset.

C P Mechanical Designs Ltd has gone into liquidation

“There are a lot of very angry staff – who have been loyal to the company for 20 plus years – and have been left out in the cold.”

Don’t miss out on all the latest breaking news where you live.

Here are four ways you can be sure you’ll be amongst the first to know what’s going on.

1) Make our website your homepage

2) Like our Facebook page

3) Follow us on Twitter

4) Register with us by clicking on ‘sign in’ (top right corner). You can then receive our daily newsletter AND add your point of view to stories that you read here.

And do share with your family and friends - so they don’t miss out!

Always the first with your local news.

Be part of it.