A Bristol manufacturing business founded in 1947 has collapsed into administration, with the loss of around 33 jobs.
PJ Hare, in Wrington, makes hydraulic presses for the automotive industry, but fell into financial difficulties as a result of a decreasing volume of orders and challenging market conditions, according to administrators.
Graham Randall and Mark Roach of business advisory firm Quantuma were appointed as joint administrators of the business on July 1.
Mr Randall said: “In recent times, the company has suffered from customers delaying their orders, particularly those in the automotive sector.
“This, coupled with wider concerns over delays to Brexit , has led to a collapse in the order book during 2019 to an unsustainable level.”
The administrators said they spent “a number of weeks” trying to find a buyer for the company, but “regrettably” no acceptable offers were received.
“Following our appointment as administrators on 1 July 2019, we have taken the difficult decision to make most of the 33 staff members redundant,” Mr Randall said.
Mr Roach added: “Hare Press is a strong brand in the machinery manufacturing sector, and we would still encourage anybody interested in the whole or parts of the business to contact us.
“In the meantime, we are liaising with key stakeholders including customers, suppliers and staff, with the aim of achieving the best outcome for all.”
The Company was founded in 1947 by Pat Hare, who was a pioneer in the development of high-speed hydraulic presses for production press work.
