Braby, manufacturer of bulk storage and process systems, has gone into administration, with 27 of its 53-strong workforce made redundant.
The Bristol-based firm, which offers ATEX-compliant silos, tanks, vessels, as well as maintenance and cleaning, was founded in 1839, but has been hit hard during the global recession. Nigel Morrison of administrator Grant Thornton said that despite having been a long-established business, and the UK market leader in its field, Braby "was not immune to the global recession, which has led to its blue-chip customer base reducing its spend on large capital items".
He said Braby’s directors had been in discussions with a large European group for some time, which it hoped would provide finance into the firm to secure its future. "Unfortunately, these discussions came to an end and the directors made the difficult decision to appoint administrators."
The business is continuing to trade in the short term and with hopes to sell it as a going concern, added Morrison.