Steelwork firm Robinson collapsed owing £8.6m

Derby steelwork contractor Robinson Structures collapsed with total debts of £8.6m.

According to the directors’ statement of affairs, trade creditors have been left around £2.5m out of pocket.

Among the preferred creditors Barclays Bank was owed around £1.2m and HM  Revenue and Customs around £1.8m, in unpaid VAT and PAYE.

The family-owned firm fell into administration last week following the removal of its insured credit limits with its key suppliers.

But creditors are hoping that a pre-pack deal that saw fellow Derby steelwork contractor B&K Structures swoop to buy up assets in a pre-pack deal could help to raise the final distribution to creditors.

Assets of the third-generation steelwork contractor, which was set up in the 1950s, included its new HQ and workshop.

Following the pre-pack deal, which saved around 68 jobs, a new business B&K Hybrid Solutions will operate from the former Robinson HQ and production plant, giving the new business capacity to manufacture 10,000t of structural steelwork per annum.

The new well-equipped facilities form part of a larger, long-term plan to deliver on the increased demand for steel and timber-steel hybrid schemes within the UK.

 

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