Administrators appointed to Broadway Stampings and Dyson Diecastings

Administrators appointed to Broadway Stampings and Dyson Diecastings

Ryan Grant and Chris Pole from Interpath Advisory were appointed joint administrators to Broadway Stampings Limited and Dyson Diecastings Limited on 1 August 2022.

Based in Bletchley and together employing circa 319 members of staff, the two Companies are amongst the last family-owned independent pressed and sheet metal component manufacturers and die casters in the UK.

As tier two suppliers to the automotive industry, the Companies have battled a number of headwinds which have buffeted the UK automotive supply chain over the past two to three years. These include the impact of Brexit and COVID-19; escalating raw material and energy costs; supply chain disruption; and shortages of both essential components and labour.

The cumulative impact of these economic headwinds on trading meant that in recent weeks, the Companies were required to seek urgent additional financial support from their customers in order for production at their sites in Bletchley to continue.

After a series of productive discussions and having secured this vital customer support, the directors of the businesses immediately took steps to protect the interests of creditors by seeking the appointment of joint administrators. This will allow the Companies to continue to trade while the administrators seek buyers for the businesses and their assets.

Ryan Grant, managing director at Interpath Advisory and joint administrator, said: “Broadways Stampings and Dyson Diecastings are proud family-owned businesses with a long heritage of manufacturing and supplying specialist products to the UK automotive industry. Unfortunately, the myriad of issues facing the sector over the past two to three years have had a significant negative impact on the Companies, resulting in the directors needing to take proactive action to safeguard the businesses’ future.

“We have been pleased with the positive conversations and financial support provided by customers in recent days, which has ultimately provided the businesses with a crucial lifeline.

“We’d also like to extend enormous thanks to the Companies’ employees and suppliers for their support and understanding while this process has been underway.

“Our priority is now to work with suppliers to re-establish and ramp up production at the sites following next week’s annual shut-down in Bletchley, while we immediately explore interest in the businesses and assets.”

Interested parties are advised to contact Gareth Shaw at Interpath via

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