A well-known gin brand is saved and other non-Iran related news from this week.
Many directors will be nervously checking their business energy tariffs this week along with the prices at the petrol pumps and nervously doing some arithmetic.
With the ongoing conflict in Iran continuing to raise prices in petrol and several other vital consumables, this is naturally a worrying time for small business owners and directors.
But it’s not the only story among the other interesting and important news items from the past seven days.
So if you want to know why directors have a short window to act to get the most out of their MVL; why business insolvencies have risen for the third month in a row; why a wave of late payments is threatening to drown SMEs; practical advice on the first thing directors must do if they receive a CCJ and why a CIFAS marker could destroy your business if ignored – you can read all these stories and more right here at our advice centre.
Bridgman
A 50-year-old fire and safety door manufacturer based in Hartlepool has gone into administration with 56 positions being made redundant with immediate effect.
Directors of Bridgman IBC made the decision after experiencing significant cashflow difficulties.
The business was first established in the 1960s and worked with clients as diverse as the NHS, Newcastle University, Cineworld, Hilton and McDonald’s.
A spokesperson for the business said: “Despite a strong effort by the directors to increase sales over the past 18 months, which resulted in a full order book, the business faced insurmountable cashflow pressures.
“Ultimately it was unable to fund the raw materials required to continue production and an accelerated effort to sell the business as a going concern in recent weeks was unsuccessful.
Enterprise Foods (Localist)
A Glasgow agricultural business has gone into liquidation with the loss of 71 positions.
Enterprise Foods trading as “Localist – The Food Merchant” acted as an agent between retailers and dairy farmers, bakeries and vegetable growers.
Founded in 1994 in East Kilbride, the company delivered 4,000 products each week to around 2,500 retailers and 1,000 catering units leaving several clients such as the Co-op with the prospect of empty shelves and chillers. Acting as a vital link between Scottish suppliers, producers and farmers and their retail and foodservice customers.
The company had experienced prolonged cash flow difficulties compounded by legacy bad debts arising from the failure of several customers and further worsened by challenging conditions across the retail and hospitality sectors.
A statement issued on behalf of the business said: “The directors had made efforts to restructure the debt of the company in order to save the business and rescue the jobs.
“The loss of jobs was sadly inevitable when this was not successful.
“There are many small suppliers to the business that are owed money and the loss of this route to market will also have a serious knock-on effect on these food producers as well.”
71 positions have been made redundant as a result.
TBG Furniture
Two divisions of a sofa manufacturing group have filed notices of intention to appoint administrators less than a year after being purchased as part of a pre-pack administration.
Westbridge Furniture Limited and Bellfield Leisure Limited were purchased by parent group Craft Topco Limited (affiliated with Blandford Capital LP) and incorporated as newcos with later name changes.
Westbridge is a furniture designer and manufacturer, supplying sofas and other upholstery to a number of blue-chip high street and premium independent retailers. They employ around 300 people at its base in Holywell, Flintshire. Bellfield Leisure manufacturers and supplies soft furnishings to the UK leisure market, employing 200 members of staff at their Ilkeston, Derbyshire headquarters.
Following the acquisition, Westbridge suffered operational disruption which had a greater impact on the business than originally anticipated. This, combined with the loss of a key customer and weak trading in early 2025, placed significant pressure on cashflow.
Separately, the trading performance of Bellfield Leisure was impacted by fragile consumer confidence impacting the wider UK leisure market. This frustrated its ability to return to a break-even position, despite cost savings being made and a regaining of market share. As a result, Bellfield also required a capital injection to manage short-term cash requirements.
In response to these challenges, the directors of the businesses undertook an exploration of their investment and refinancing options. However, when a solvent solution could not be found, they took the decision to seek the appointment of administrators.
A statement from the directors said: “It’s been a challenging time for furniture manufacturers and retailers. Following a spike in demand during Covid-19, a period of falling sales, high interest rates and inflation, have piled on the pressure for companies up and down the supply chain.
“While both Westbridge and Bellfield Leisure had made positive progress on their respective turnaround journeys, both companies required further injections of capital. Unfortunately, and despite the best efforts of management to secure funding, this has not been possible, which has sadly resulted in the companies going into administration.”
The other companies in the Belfield Group, namely Tetrad Furniture and Clinchplain Foam and Fibre, are not in administration and continue to trade as normal.
Moveero
The UK arms of a global engineering and manufacturing business has filed notices of intention to appoint administrators.
Moveero, formerly GKN Wheels & Structures, operates from a manufacturing facility in Telford and specialises in wheels, rims and hubs used in off-highway industries such as agriculture and construction.
Moveero says that in recent years its UK operations have faced significant financial challenges due to weakened off-highway markets, sustained pricing pressures and intense competition from lower-cost producers. The business now requires significant further funding to enable them to trade through 2026/27 and beyond.
While the directors continue to work to try to secure additional funding, it has become “clear that it is currently not possible for the business to trade as normal without taking protection from creditor action.”
Directors have taken the decision to start the process of placing Moveeros UK companies – Moveero Limited and Autostructures UK Limited – into administration.
David Geraghty, moveero chief executive, said: “The aim of this process is to protect the business and give it the best possible chance of a successful future. Importantly, once the administrators have been appointed, the businesses will continue trading, while the process to find a buyer remains ongoing.”
Moveero’s operations in the US, Italy and Denmark are not affected by this decision.
Shaftec
A Birmingham-based manufacturer of components for the automotive industry has ceased trading with the majority of their 90-strong workforce being made redundant.
Shaftec Automotive Components manufactures drive, steering and braking components for passenger cars.
The business has faced increasing financial pressures linked to challenging trading conditions in the automotive components sectors including rising costs and intensifying competition from cheaper imported parts.
Despite an extensive marketing process, it was not possible to secure a buyer for the company and it has now ceased trading.
Slingsby Gin
The iconic Slingsby Gin brand has been sold to a new owner in a pre-pack administration deal but its Harrogate shop will permanently close.
Spirit of Harrogate Limited went into administration on March 18th 2026 before the business and assets were subsequently sold to Brightside Spirits Ltd in a pre-pack deal.
Chris Williams, Director of Brightside Spirits Ltd, said: “As long-time supporters of independent Yorkshire producers, we couldn’t stand by and watch a brand with such strong heritage potentially disappear.
“When the opportunity arose to acquire the business out of administration, we knew we had a responsibility, not just to the product, but to the community that has championed it from the very beginning.
“Our immediate focus is on stabilising the business, rebuilding production and ensuring that the outstanding quality and character of Slingsby remain at the heart of everything we do. Over the coming months, we will be investing in the brand, strengthening local partnerships and exploring new ways to celebrate the craftsmanship that made this gin so special.”
No matter what line of business you operate in, these could be a nervous few weeks and months ahead.
Be proactive and take the time now to get in touch with us to arrange a free initial consultation.
Our advisors will be able to talk through your current situation and your plans for the business and let you know what options you have available that you might not have considered.
The sooner you contact us, the sooner we can begin to work together and make your plans a reality – even sooner.