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Administrators step in and take over Trumac
Page 9
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By David Harris BODYBUILDER TRUMAC went into administration last week, with the loss of 30 jobs. The administrator confirms that the Wiltshire-based company's bank was on the brink of withdrawing support when it went into administration voluntarily.
John Law, head of the Bristol office of administrators I larrisons, says that despite Trumac's difficulties with its bank, it has a full order book. He says: -This is a good business with a decent amount of orders, so we're optimistic we'll be able to continue trading and find a buyer."
He adds that just before Trumac went into administration, the bank wanted to appoint a team of working accountants, which he says is "never a good sign".
After the redundancies, there are about 50 staff at the Westbury firm and Law says it is likely any buyer will want to retain the skills of the remaining staff at the company.
Property agent Steve Mason of Edward Symmons, who has been appointed to handle the sale, says it is likely that "a number of Trumac's rivals might be interested" in buying the firm. Edward Symmons has advertised the sale in the Financial Times.
Trumac's specialities include bodywork for refrigerated vehicles. The company has a 70-year history when the firm's predecessor made bodywork for vehicles transporting milk chums, which were made on the same site.
It was then bought by Unigate, then Wincanton, then Mackworth Bodies.
In 1991. this was bought by the GRP Group and the company became known as GRP Bodies.
The firms latest incarnation resulted from a management buyout in 2003, which was followed by a relaunch as Trumac in 2006. The name was based on the names of the two shareholders: Jarvis MacDonald and Heather Trueman.