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SUSNESS

6th August 2009, Page 8
6th August 2009
Page 8
Page 8, 6th August 2009 — SUSNESS
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M&G Trailers' future 'in balance'

MOLANDS TRAILER manufacturer M&G Trailers has ceased trading and could go into liquidation this week. As CM went to press, a meeting of creditors had been scheduled for 4 August, and insolvency practitioner Michael Pose confirms that following this, the firm "should go into liquidation".

M&G Trailers was part of the Boalloy group until administrators were called in during 2007 and the company was sold off separately.

Company secretary Andrew Kay says that despite having a strong order book, the firm struggled due to a lack of available credit and a reluctance by the banks to help out. "Suppliers were just not prepared to extend credit terms," he says. "It looks likely it will be placed into liquidation. For manufacturing to prosper in this country, it needs a reliable source of credit."

He adds: "It's one of a long list of manufacturing companies that have gone to the wall. It's not the first and most certainly won't be the last."

• An investigation into trailer manufacturing will appear in CM20 August.

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