Liverpool city region powder metal component manufacturer GTB Components collapses into administration but hopes remain a buyer can be found to save the business and 44 jobs. Tony McDonough reports

Powder metal component manufacturer GTB Components, which employs 44 people in St Helens, has collapsed into administration.

Patrick Lannagan and Conrad Pearson of administrators Forvis Mazars says the business is a well established supplier and they are hopeful a buyer can be found that will allow it to continue.

Established in 1981, GTB has developed into a leading manufacturer of powder metal components, serving global sectors including automotive, building products and home and leisure.

Patrick Lannagan, joint administrator and partner – corporate restructuring at Forvis Mazars, said: “The company has encountered cash flow challenges, resulting predominantly from challenging market conditions.

“After careful consideration of the financial position, the directors of the company have reached the difficult decision to place the company into administration.”

He added the Company possesses “a well-established manufacturing capability and dedicated and skilled workforce” and continues to trade while a buyer for the business is sought by the administrators.

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They encourage anyone with an interest in acquiring the business and assets to email Angela Ramzan at an***********@*******co.uk.

The Administrators will be writing to all creditors in the coming days. According to its most recent accounts filed on Companies House on May 29 this year, GTB had net assets of just over £1.9m on May 31, 2024.