A Bolton based vehicle manufacturer is facing an uncertain future after going into administration.
WN Vtech Holdings, based on Wigan Road at Hart Common in Westhoughton, has announced that it has had to appoint administrators after “experiencing challenges” in its supply chain.
The company manufactures vehicles and specialises in EV and alternative fuels and owns several smaller subsidiary firms around the country.
Cllr David Wilkinson, of Westhoughton South, said: “This is quite worrying because there’s quite a few people from the area who will be employed there and they’ve been there for some time.
“They’ve always been in business of customising vehicles so its worrying that it’s a firm that’s potentially in serious difficulties and that a lot of people’s jobs may be in trouble.”
He added: “It’s a shame because I can remember it being there for many years and the concern now is what happens to the people who work there.”
The company and its subsidiaries work on a range of vehicles including zero-emission buses and ceremonial cars.
Its subsidiaries also work to build specialist vehicles for the emergency services, such as ambulances.
A statement on WN Vtech’s website says it mobilises “the industry’s brightest minds and group-wide technical capabilities to guide customers through an ever-changing landscape.”
The announcement also means that Bradford based minibus manufacturer Treka Bus Limited, which has been called the largest dedicated ambulance and police vehicle factory in the UK.
Teneo Financial Advisory Limited has now appointed Daniel Smith and Julian Heathcote as joint administrators.
They will now act as administrators not only of WN Vtech Holdings Limited itself but also its subsidiary companies.
These include WN Vtech Limited, Treka Bus Limited, Vehicle Conversion Specialists Limited, Promech Technologies Limited; and JM Engineering (Scarborough) Limited.
But it is believed that all business involved will continue to trade as normal in the meantime.
A Teneo Financial Advisory Limited spokesperson said: “Like many companies in the automotive sector, the Group has experienced challenges around supply chain issues which has impacted fulfilment of orders and working capital.
“The joint administrators are continuing to trade all businesses as usual, while exploring opportunities for a sale.”
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel