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Manchester’s Thomas Storey Fabrications Rescued by Pre-Pack Deal, Jobs Saved

Management Consulting

Business Honor
12 June, 2025

Swift pre-pack sale preserves 110 jobs and strengthens UK engineering sector.

Manchester engineering firm Thomas Storey Fabrications has been rescued via a pre-pack administration agreement after it struggled financially. Having more than 100 years of history in the steel sector, the firm offers design, manufacturing, and finishing services to major markets such as construction, military, rail, and electric vehicles.

Its most recent published accounts in 2024, Thomas Storey's turnover fell from £17.5 million to £12 million. This was due to a downturn in the construction industry and significant customers relocating business overseas. These issues later resulted in the company going into administration.

Restructuring specialists Chris Ratten and Gareth Harris of RSM UK were named joint administrators. They facilitated a speedy pre-pack sale of the business and assets to TAL Engineering, which is part of the TAL Engineering Group, in return for an undisclosed amount.

Chris Ratten, Partner at RSM, explained, “Market volatility, shifting customer priorities, and supply chain issues caused financial strain for Thomas Storey. We’re pleased to have completed the sale quickly, saving the business and protecting all 110 jobs.”

The acquisition was backed by financier Jaswiner Singh of Baaj Capital, which has previously supported other distressed companies, including In the Style Fashion.

Dave Brindle of TAL Engineering expressed optimism about the acquisition, stating, “We’re excited to preserve Thomas Storey's future and invest in its talented workforce. This aligns with our commitment to supporting and growing UK engineering businesses.”

The deal ensures that Thomas Storey Fabrications will continue its operations without interruption, preserving jobs and maintaining key manufacturing capabilities in the NorthWest.

This prosperous pre-pack sale by RSM not only saves a well-established British engineering company but also emphasizes the role of anticipatory restructuring during periods of financial hardship.