Thessco Ltd, manufacturers of brazing alloys and contact materials since 1760, has been placed into administration with Joanne Hammond and Kris Wigfield of Begbies Traynor appointed as joint administrators.
One of the world’s largest manufacturers of silver brazing alloys, metal joining products and industrial silver alloys, Thessco has its head office and production site in Royds Mills, Sheffield.
The company ceased to trade upon the appointment of administrators with the expected loss of all 47 jobs. The administrators are currently working to ensure the best return for creditors.
The company’s directors said: “It is with heavy hearts that we have been forced to make the decision to close Thessco Ltd in Sheffield, following a year of turbulent market forces. Spiralling energy prices, increased raw material costs and the significant rise in finance costs have all had a huge impact on the business.
“We would personally like to thank all our staff for their hard work and dedication, and all our customers and suppliers for their loyalty.”
Joint administrator Joanne Hammond said: “It is very said to see the demise of such a historic Sheffield business, but, unfortunately, market conditions make it unviable for it to continue. As well as supporting employees, we will be seeking the best return for creditors and anyone interested in purchasing plant or machinery should contact us.”
The Attercliffe site has been occupied by Thessco, which was originally The Sheffield Smelting Company, since 1788. In recent years, it has developed to include the busy tenanted Solpro Business Park which will continue to operate as part of Solpro Manufacturing Limited, hosting a variety of businesses.
Thessco SAS in France will continue to serve all its traditional precious metal markets both within the EU and the UK.
