Administrators appointed to Drivelink UK Limited
Mark Firmin and Howard Smith from KPMG Restructuring have been appointed joint administrators to Drivelink UK Limited, an independent automotive component re-manufacturer based in Gateshead.
The company, which employs 53 employees at its base in the Team Valley Trading Estate in Gateshead, fell into administration after the loss of a key customer last year. No redundancies have been made as a result of the administration.
Howard Smith, joint administrator and associate partner at KPMG Restructuring, commented: "The problems faced by Drivelink are typical of those facing many UK component manufacturers who have been left highly stressed as a result of the downturn in the wider automotive sector. The administrators will continue to trade the business while we seek a buyer, and would encourage any interested parties to contact us as soon as possible."
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