Company collapses into administration

A Staveley-based company has fallen into administration.

Thursday, 19th October 2017, 9:03 pm
Updated Tuesday, 12th December 2017, 9:15 am
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Krantech Holdings Ltd - which moved to its £2.1million headquarters on Colliery Close in the town last year - builds highly-specialised equipment for the oil and gas industry.

Tonight it has emerged Howard Smith and Mark Jeremy Orton, of KPMG, have been appointed joint administrators of the firm.

It is understood the business, which was founded in 2006, employs around 60 members of staff.

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The Krantech Holdings Ltd website states: "Products manufactured by Krantech can be found throughout the UK and worldwide on virtually every continent, many of them operating several fathoms below sea level on the floor of the ocean."

No further information is available at this time.