The future of Wadkin has been secured by administrators Mazars in a deal clinched late yesterday afternoon.
Wadkin UltraCare Ltd has been acquired as a going concern by a new management team backed by former Wilkinson’s Hardware Stores chairman Tony Wilkinson. A total of 50 jobs have been secured in the deal.
The firm is now focused on manufacturing grinders, remanufacturing machines and growing its service support business.
Wadkin went into administration under a £3m debt burden, including around £1.4m owed to the Inland Revenue & Customs.
More on this story will appear in the next issue of TTJ.
