A UK CAR parts manufacturer that supplies millions of British motors has plunged into administration following financial troubles.
The long-established firm works with major brands such as McLaren, Jaguar and Land Rover.
WCM Europe Ltd, focuses on the engineering and manufacture of plastic parts and automotive systems.
According to a notice published in The London Gazette, Interpath Advisory was appointed a joint administrator of the firm on Wednesday.
The company, registered in Nottingham, operates from its principal trading address in Basildon, Essex.
The administration process places control of the company in the hands of insolvency practitioners.
They will then explore options including restructuring, a sale of the company or its assets, or closure if a rescue proves impossible.
No further details have been released about why the company has collapsed.
WCM Europe was established in 1948 and was originally called WCM Patterns Ltd.
In 2017, the company expanded its Basildon production space by 50% for clean assembly, painting and stores.
It remains unclear how many employees may be affected by the administration. There are also no details about the future of any operations at the Basildon site.
Tim Bateson, director at Interpath, said: “WCM is a world-class UK manufacturer making critical components for a number of leading vehicle manufacturers across the automotive industry.
“We’d like to express our sincere thanks to customers, suppliers and WCM’s dedicated staff who are working alongside us as we explore options for a possible sale.”
The Sun has contacted WCM Europe Ltd for comment.
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