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Jobs lost as Coventry Engineering Group ceases trading

2025-03-23 01:24:14 By

An engineering firm has ceased trading after suffering a downturn in revenue and being hit by cash flow difficulties.

Coventry Engineering Group, which was based on Bayton Road Industrial Estate in the north of the city, was a specialist manufacturer of precision tooling.

Craig Povey and Gareth Prince, from financial services firm Begbies Traynor, were appointed as joint administrators on July 16.

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In a statement, they said that, owing to pressure from creditors, a sale could not be concluded despite administrators receiving interest from several parties. As a consequence, all 31 employees were made redundant.

Mr Povey, from Begbies Traynor's Birmingham office, said the sale of the remaining business and assets was completed on July 30 with Ultimate Precision, a company unconnected to Coventry Engineering.

He added: "The company had been suffering from loss of trade and cash flow problems and, despite discussions with several interested parties, a sale could not be concluded prior to administration.

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