Administrators have been appointed at a Lancashire engineering firm following 'financial difficulties'.

Two administrators were brought in at Pendle Engineering Limited of Nelson yesterday, Friday, October 6.

The family-run business employs 55 staff, who all currently remain employed.

According a statement put out by FRP Advisory, the organisation which the administrators belong to, the business has faced 'increasing financial difficulties' due to the impact of rising costs and inflation, leading to the appointment.

FRP says it is possible the company could be sold.

A spokesperson from FRP Advisory said: "David Willis and Martyn Pullin of specialist business advisory firm FRP were appointed as Joint Administrators of Pendle Engineering Limited on 6th October 2023.

"Based in Nelson, Lancashire, the family run business provides a range of engineering services from conception and design, through to manufacture and delivery including laser cutting, fabrication and product finishing.

"Due to the impact of rising input costs and supply chain inflation, the business has faced increasing financial difficulties which has ultimately led to the appointment.

"All 55 staff remain employed, and Pendle Engineering Limited continues to trade as the Joint Administrators explore options for the future of the business, including the possibility of a sale."

David Willis, Restructuring Advisory Partner at FRP and Joint Administrator of Pendle Engineering Limited, said: “Our appointment means the business can continue trading as we work through options and consider the prospect of a sale process to protect the future of Pendle Engineering Limited.

"We encourage any interested parties to come forward.”