Laser cutting company sold out of administration

However, 22 members of staff have been made redundant at Laser Shapes (UK) as result of its difficulties.

Lindsey Cooper and Jeremy Woodside of RSM Restructuring Advisory LLP were appointed Joint Administrators of Laser Shapes (UK) in April.

The laser cutting division of the company has subsequently been sold to Laser Shapes (NW) Limited, a company owned by existing management.

However, as a buyer for the remaining parts of the business could not be found, 22 staff members were made redundant and are being assisted by RSM with their claims to the Redundancy Payments Office.

Lindsey Cooper, RSM partner and one of the Joint Administrators, said: “This sale has allowed the business to continue to trade; it has secured 29 skilled jobs and delivered the best possible outcome for creditors in the circumstances. “The administrators will now continue to maximise realisations from other assets for the benefit of creditors.”