Administrators at business rescue and recovery specialists Begbies Traynor have been appointed to a Newport-based business which has been placed into administration.

AIC Steel Limited was established to acquire the business and assets of Rowecord Engineering Limited which was placed into administration in May 2013. The acquisition by AIC went through in March 2014. The company trades from Usk Road, Newport, Gwent.

Joint administrators David Hill and Huw Powell - from Begbies Traynor's Cardiff office - were appointed on October 4, 2016.

The company has 120 employees and is a steel fabricator and erector business. Begbies Traynor are currently investigating the viability of continuing trading, but it is likely that there will be significant redundancies.

Begbies Traynor Group plc published this content on 05 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 05 October 2016 11:59:04 UTC.

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