Midlands firm that made the 2012 Olympic Games torch enters into liquidation
A Warwickshire-based manufacturing and automotive firm that made the 2012 London Olympic torch has entered into liquidation.
The firm made the 8,000 torches used during the 2012 Olympic Games.
Premier Sheet Metals said it blamed the impact of the coronavirus pandemic on the automotive sector over the last few months.
The Exhall-based firm which produces sheet metal parts for the automotive sector has felt the full force of the COVID-19 crisis. The first six months of the year saw the number of cars built in the UK slump to the lowest level since 1954.
A statement from the firm read: “Following a review of the company’s financial position and cashflow requirements by the company’s advisors, it became apparent that Premier Sheet Metal (Coventry) Ltd could not generate sufficient sales and in turn cash flow to enable it to continue to trade. Therefore, very regrettably, and after a period of over 25 years of trading, the decision was taken to commence the process of placing Premier Sheet Metal (Coventry) Limited into liquidation.”