A Somerset-based manufacturer that supplies aerospace and defence industry giants including Airbus and BAE Systems has fallen into administration, with the immediate loss of 25 jobs .
Advanced composite maker Tods Aerospace in Crewkerne, near Yeovil, has appointed Andrew Sheridan and Geoff Rowley of specialist business advisory firm FRP as joint administrators.
The business is continuing to trade while administrators market its assets for sale and 111 employees are being retained to support the ongoing operation of the company.
Tods Aerospace called in administrators after a "sustained period" of suffering with cash-flow issues, as well as a "weakened order book" amid widespread challenges in the aerospace sector, FRP said.
Andrew Sheridan, joint administrator and partner at FRP, said: “Tods Aerospace is part of the complex supply chain supporting international aviation and its challenges reflect the mounting pressures facing many manufacturers in the industry.
"We are now working with the management team to maintain trading and operations as usual, while we look to find a buyer. We are also working with the Redundancy Payments Service to support all affected employees.”
Tods Aerospace's site in Somerset provides full product design, build, print and analysis that is supported by a suite of tooling and machining facilities.
The business is part of the Unitech Aerospace group, which is not part of the administration. And none of Unitech's other subsidiaries are affected.
