Local business employing over 300 people goes into administration

A local business employing approximately 350 people in Coventry has gone into administration, it has been confirmed.

CovPress Assembly Limited, a car parts supplier, has not yet announced any redundancies and the business will continue trading.

CovPress occupies the factory on the right. (Photo: BBC)

But the firm has not “generated the anticipated profitability”, according to administrators Deloitte.

“We are hopeful that the administration process might now draw out interest in a sale of the business,” said Matt Cowlishaw, joint administrator.

“The business operates from a state of the art facility, with a skilled workforce, capable of working in partnership with global automotive companies.

“Meanwhile, we are continuing to trade the business and work with customers to fulfil existing orders,” he added.

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