BUYER FOUND FOR PART OF SPECIALIST MANUFACTURING COMPANY IN ADMINISTRATION

A buyer has been found for part of Tods Aerospace Limited, on the Cropmead Trading Estate, which went into administration in March. Andrew Sheridan and Geoff Rowley of FRP Advisory, who were appointed as joint administrators, have confirmed that the defence engineering division of the company has been sold to Cobham Mission Systems, with TUPE – Transfer of Undertakings Protection of Employment, agreed for 40 employees.

FRP Advisory, who have been working with the management team at Tods Aerospace and the Redundancy Payments Service, to support all those affected – have unfortunately been unable to find a buyer for the commercial aviation division of the company and 56 employees will be made redundant.

At the time of going into administration, Andrew Sheridan of FRP Advisory said: “Tods Aerospace is part of the complex supply chain supporting international aviation and its challenges reflect the mounting pressures facing many manufacturers in the industry.” On the recent sale of the defence division of the business, Andrew Sheridan said: “This is an incredible achievement for all the team at Tods Aerospace, through the challenge of administration and during the Covid-19 pandemic.”

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