Paul Flint, Brian Green and Will Wright of KPMG’s Restructuring team were appointed Joint Administrators of Metalrax Housewares Limited on 18 June 2013.
On appointment, the Administrators sold the business and its assets to Oneida International Limited, a subsidiary of Everyware Global Inc – a leading international manufacturer of tabletop and food preparation products for the consumer and foodservice markets. The deal secured the jobs of Metalrax Housewares’ entire 126-strong workforce.
Metalrax Housewares operates from three sites in Burnley, Lancashire; Oldbury in the West Midlands and Fakenham, Norfolk under two distinct divisions: Samuel Groves and George Wilkinson International.
Established in 1931, George Wilkinson International provides branded bakeware products and microwave-ready cookware to leading grocery, department store and specialty retailers. Samuel Groves, which was founded in 1826, sells its products under the Mermaid Bakeware and Lifelong brands. Made from hard anodised aluminium and longlife aluminium respectively, the ranges are popular amongst professional chefs and caterers. Both businesses also supply white label products.
Paul Flint, Joint Administrator and Restructuring Partner at KPMG, commented: “Metalrax Homewares entered administration as a result of a continued downturn in trading and difficulties in meeting its debt obligations.
“Following comprehensive marketing of the company, we were able to secure a going concern sale – safeguarding the future of its 126 employees and two historic businesses in George Wilkinson and Samuel Groves. The acquisition of Metalrax Housewares is a strong fit for Everyware Global, expanding its UK manufacturing and product presence.”
In April 2013, KPMG completed the pre-pack sale of AIM-listed Metalrax Group plc and its subsidiaries to a group of companies headed by Bowman Birmingham Limited. As part of the transaction, Metalrax Housewares – which was not placed into administration – was sold in a separate solvent share deal.
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