A British engineering company that collaborated with Jaguar Land Rover, Subaru, and Nissan has entered administration.
JRM Advanced Engineering, a firm specializing in engineering and manufacturing, is now seeking a buyer following its recent administration filing. The company, based in Northamptonshire, was reported to have entered administration on February 12.
The company’s expertise lies in the motorsport, aerospace, and marine sectors, focusing on the development of high-performance chassis and innovative suspension solutions.
Gary Pettit from PBC Business Recovery and Insolvency has been appointed to oversee the administration process, according to The Express.
The impact of this development on the company’s employees and the possibility of redundancies remain uncertain at this time.
Formerly a Tier 1 supplier, the company had secured contracts with renowned automotive and performance brands like Jaguar Land Rover, Arctic Trucks, Subaru, and Nissan Nismo.
Operations are currently on hold as the administrator evaluates the company’s financial status and explores potential recovery options. Interested parties have already expressed their intent to acquire the company.
The aim of the administrator is to facilitate a sale that would enable trading to resume, safeguard jobs, and ensure mutual agreement on commercial terms after due diligence.
The company is known for its specialization in advanced powertrain construction, including projects related to hydrogen fuel cell technology. Its engineers have also played a role in developing a new battery-electric sports car.
JRM Advanced Engineering had previously provided a comprehensive engineering package and layout concept for Caterham’s Project V electric vehicle, featuring lightweight double-wishbone suspension with adjustable toe and camber settings.
