A Sheffield tool repair company has gone bust with the loss of 10 jobs.
Numill called in liquidators following declining sales and the failure of a turnaround plan.
Documents show it owes £642,000 to 109 creditors.
Graywoods insolvency practice has been in contact with potential buyers for the company’s assets. It says there is the possibility that some jobs might still be saved.
A spokesman said: “Numill agreed a turnaround plan with creditors in 2016, however declining sales have led to the closure of the company.
“There is definite interest in Numill and the liquidator is seeking a sale of the assets. It is too early to know what the outcome will be but we are hopeful that some, if not all, of the jobs of will be safeguarded.”
Numill was incorporated in July 2003 to take over and develop the business of Numill Engineering, which was launched in 1969.
Originally formed as a partnership to repair indexable cutting tools, Numill also designs and manufactures tooling.
It has a client base across Europe, Scandinavia, Singapore and Malaysia while its UK clients range from small engineering firms to high profile, blue chip companies, particularly from the automotive and aerospace sectors.
Anne Wilson was managing director, she received an MBE in 2016 for services to engineering in Yorkshire. She was unavailable for comment.
Ian Strickland, of Precision Tools, Attercliffe Common, said they are owed £3,500.
He said Numill had paid him in April for work done in January but they’d had nothing after that. As a creditor, he had received a report from Graywoods detailing 109 creditors owed £642,000.
He added: “I thought Numill was a good company. We are a two-brother small firm who have done work with them and are owed £3,500, which will hit us hard.
“You don’t want to push a company too hard for payment because you don’t want to lose work.
“There are only two of us, we have a £120,000 turnover so this is a chunk of our outgoings.”