Job losses as Chesterfield manufacturing firm goes into liquidation

A Chesterfield manufacturing firm has gone into liquidation.

Tuesday, 16th January 2018, 5:03 pm
Updated Tuesday, 16th January 2018, 5:05 pm

According to Companies House, the voluntary winding up process for Stainless Steel Fasteners Limited (SSF), formerly on Broombank Road, started on December 22.

A letter to employees of the fasteners and screw machine products firm, seen by the Derbyshire Times, says Steven Currie, of Currie Young Limited, is the liquidator and Insol Group is the agent in charge of employment matters.

The letter, dated December 15, says: “Due to the company’s current financial position it is not able to make payments to you for monies due such as arrears of pay, holiday pay, redundancy pay and compensatory notice pay.”

Sign up to our daily newsletter

The i newsletter cut through the noise

The number of job losses is not known but it is believed to be around 50 to 60.

It is thought SSF was bought out by a company called The IPP Group only in September last year.

According to The IPP Group website, IPP Stainless Steel Fasteners is now operating out of Barton Business Park in Staffordshire.

Reacting to the news, Chesterfield MP Toby Perkins said: “My sympathies go to the workers and families who have been made redundant in the week before Christmas.

“I have attempted to speak to the holding company, The IPP Group, but they have refused to provide any information on why Stainless Steel Fasteners in Chesterfield has been liquidated. The IPP Group is a large company with branches in several countries and it is disappointing that they have not only made workers redundant just before Christmas, but are not paying their workers redundancy or notice pay, with taxpayers having to foot the bill.

“I will be writing to the chief executive of The IPP Group to find out why this branch has failed and demand answers for my constituents who have lost their jobs.”

He added: “Existing staff have alleged that SFF were asset stripped since the takeover by IPP. If there is nothing for IPP to hide, I find it difficult to understand why they are so unwilling to discuss the decision with me, or even with workers who have loyally served SFF for longer than they have been owned by IPP.”

The Derbyshire Times tried to contact The IPP Group but they did not want to comment.

n Did you work at Stainless Steel Fasteners in Chesterfield? Email [email protected] or call 01246 504574.

n New jobs at Markham Vale - see p12.