Walsall castings and machining group Chamberlin starts insolvency process
A Black Country castings and machining group has started an insolvency process.
It came after shares in historic castings and engineering group Chamberlin, which employs more than 160 people, were suspended a week ago.
Chamberlin, which has its head office at Chuckery Rod, Walsall, says further announcements will be made in due course.
Chief executive Kevin Price said: "Following the company's announcement on May 7 and the subsequent discussions with creditors, customers and shareholders, we do not have a funding solution that provides the necessary liquidity in the time we have available.
"On behalf of the board, I express to our staff, shareholders and all other affected stakeholders our deepest regret that we are having to take the very difficult decision to commence an insolvency process."
