Automotive engineering firm Pneuride enters administration with 55 job losses

Summarised from 4 outlets · Updated 11 Oct, 14:07 · Archive

Pneuride, an automotive engineering company established in 2007, has entered administration after ceasing trading in September, with 55 staff losing their jobs.

Pneuride, an automotive engineering company established in July 2007, has entered administration following its collapse in September. The firm employed 55 staff and specialised in advanced electronic control systems and air suspension components for the automotive industry.

Joint administrators Richard Harrison and Chris Pole of Interpath were appointed on 30 September. The company had faced significant financial difficulties in recent months, experiencing a sustained period of weak trading and mounting pressure on cash flow and margins.

Most staff have been made redundant, though a small number have been retained to assist with winding down operations. The directors had previously explored alternative options, including marketing the business for sale, but received no viable offers or investment proposals.

Richard Harrison said: 'The automotive sector continues to undergo significant transformation and adapting to such change – amidst significant competition – adds further pressure on businesses in the supply chain that are already struggling to maintain margins and profitability. Pneuride was no exception and couldn't continue in its current form. As we see through an orderly wind down of operations, we're focused on supporting employees through this difficult period.'

James Portwood, director at Interpath, invited anyone interested in acquiring the business and assets to contact the firm. The collapse reflects broader challenges affecting UK businesses, with the company's struggles attributed partly to the automotive sector's ongoing transformation.

How it is being reported

• 55 jobs lost as UK engineering company enters administration after 20 yearsAutomotive engineering company Pneuride ceased trading in September and has now entered administration, resulting in the loss of around 55 jobs.Whitehaven News · 11 Oct, 13:55
• 55 jobs lost as UK engineering company enters administration after 20 yearsAutomotive engineering company Pneuride ceased trading in September and has now entered administration, resulting in the loss of around 55 jobs.Westmorland Gazette · 11 Oct, 13:55
• 55 jobs lost as UK engineering company enters administration after 20 yearsAutomotive engineering company Pneuride ceased trading in September and has now entered administration, resulting in the loss of around 55 jobs.NW Evening Mail · 11 Oct, 13:55
• 55 jobs lost as UK engineering company enters administration after 20 yearsAutomotive engineering company Pneuride ceased trading in September and has now entered administration, resulting in the loss of around 55 jobs.News & Star · 11 Oct, 13:55

In this story: Pneuride · Interpath · Richard Harrison · Chris Pole · James Portwood

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