The company, which supplies steel fabrication and associated services to the steel industry and energy sectors, based on Teesside, suffered a significant drop in sales in October 2015 after its major customer, SSI UK, entered liquidation, which also left SBV Engineering with substantial losses in relation to the account. 

The business was able to continue to trade following the liquidation of SSI by raising additional finance and rescheduling its major creditors. However, it became clear this month that it could not continue to service its liabilities, particularly given the burden imposed by the amounts owing from the collapse of SSI, and so administrators were appointed to the business.

Upon appointment, after being unable to find a buyer for the company, all 38 members of staff were made redundant. 

Howard Smith, associate partner at KPMG and joint administrator, said: ‘SBV Engineering has struggled to recover from the loss of a major trading partner and the wider, well-documented challenges facing the UK steel industry. We will now work to wind down the business, provide support for the employees and explore options to realise assets.’