More UK Stainless distributors close
March has been a bad month in the UK for stainless steel distributors and the economic downturn is increasing the number of casualties. This week two more distributors and processors and gone into administration following the same route as Lockley Stainless. Allied stainless who process over 650 tonnes of material throughout there group per month have gone into administration. There main areas of activity where slitting and blanking of stainless steel coils. The other company who have appionted Deloitte Touche as administrators are Lazenby metals , they specialise in polishing stainless steel and distributing sheet, they are another long established company. With falling prices and low demand this may not be the end of closures as each of these companies like Lockley’s is expected to have large debts with other mills ,stockholders and processors which will in turn put more companies under financial pressure.
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