Hull engineering firm to close with the loss of 20 jobs

By Hull Daily Mail | Posted: 13 Dec 2018

A Hull engineering company has announced it is closing down early next year, with the potential loss of more than 20 jobs.

Point Engineering, based in Lee Smith Street, off Hedon Road, east Hull, said the decision follows “difficult trading conditions over a three-year period”.

The business has worked on big projects both in the UK and overseas, including a football stadium in Qatar which will play host to the 2022 World Cup.

In a joint statement, directors Steve Norton and Jonathan Rollison said: “We have decided to invoke this now in order to be responsible and fair to employees, customers, suppliers and other stakeholders.

“This way, we will be honouring current orders and ensuring that funds are available to pay our suppliers, our fixed costs and full redundancy packages.

Point Engineering in Hull has announced it is closing down. (srenilson)

“The business will trade for the next three months in line with the notice periods of our long service employees.

“Making this tough decision to wind down now will prevent us being forced into liquidation at a later date, which would happen if we do not manage to turn things around.”

Read more: These striking pictures show what @TheDock expansion could look like

Point Engineering was founded by the duo in 2001 and provides services to manufacturing sectors.

The firm was one of several to work on the Khalifa International Stadium, a major stadium in Qatar which will play host to the next football World Cup.

Point Engineering in Hull has announced it is closing down. (srenilson)

Other work it has completed includes laser specialist Rofin Sinar’s base in Hessle, as well as contracts in the offshore wind sector.

The 22 staff at the business were told off the closure on Wednesday, December 12.

“We will be doing everything we can over the next three months to manage the business with intent for it to continue to operate in some form,” the directors said.

“We have fantastic and loyal employees, so it is with deep regret and heavy hearts that we have had to make this announcement. It is of the utmost importance that we support our employees as best we can.

Read more: Hull's Spencer Group bids for huge £500m metro contract in Newcastle

“Over the last few years we have developed incredible skills, services and products and have been involved in some innovative and high-profile contracts, so we are working to ensure that what we have built up, with the contribution of our staff, is not lost.

“We will continue to trade for now and continue our responsibilities as an employer."



Follow us on Facebook and Twitter

Manufacturing News

Source article: http://www.hulldailymail.co.uk/

Share Article

Grimsby News

Solenis is a new name on the South Bank following major merger

Hull & East Riding News

Smith & Nephew announces 500m deal to buy American medical firm

Scunthorpe News

Crunch deal completes: PepsiCo has bought out Pipers Crisps

Your News

Would you want your employees working from home? Read more in our Your News special report