A steel fabrication specialist set up last year before buying a £12m-turnover namesake contractor out of administration has itself appointed administrators.
Thomas Storey Fabrication Limited on Monday (19 January) appointed administrators from KBL Advisory, according to a notice on The Gazette.
Companies House filings show that the firm was created on 26 February 2025, four months before it acquired Thomas Storey Fabrications Group Limited from administration. It has not published any accounts since then.
That deal saved more than 100 jobs, according to an announcement by RSM Restructuring Advisory at the time.
Thomas Storey Fabrication and the group firm were both registered at Stainburn Road, in Openshaw in eastern Manchester. But they have different directors.
RSM said in its statement that the group had been hit by the “compounded impact of market pressures, resulting from customer withdrawals from the UK market, supply chain challenges, and mounting overhead base”.
According to its final accounts, for the year to 31 July 2024, the group had a turnover of £12m, and a pre-tax profit of £65,600.
It is owned by Bulgaria-based TAL Engineering Group, which is backed by BAAJ Capital LLP, an equity capital firm based in London. BAAJ Capital is owned by Jaswinder Singh and Dalwinder Singh.
Construction News has contacted KBL Advisory, RSM, TAL Engineering, and BAAJ Capital for comment.
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Joshua Stein