Comlec Units Limited, a family-owned forklift component remanufacturer, repairer and supplier, has gone into receivership due to the weakening British pound and the economic recession.

Company founder Rob Blackwell, 59, tells Forkliftaction.com News that it is "with much regret" that he and his wife, Jean, the company's directors, put the company into liquidation to avoid further losses that could lead to insolvency.

"Due to the weakening pound against the Euro and the recession, trade has fallen dramatically and we could no longer cover the overheads with reduced margins on imports and the lack of repair business," Blackwell says.

"We are now trading as a partnership 'Comlec Units', which has the assets to support any borrowing required to keep trading," he adds.

The Blackwells started the business in 1985 as a partnership. With the help of staff, they built up a customer base and a reputation as an AC and DC motor specialist. In 1989, a limited company was established with Rob and Jean as shareholders and directors. The business grew and over the next 10 years, Comlec leased two properties adjoining its first unit but the space of over 6,000 sqft (557sqm) became too small. In 1999, the husband-and-wife team purchased the premises that they now personally own. The limited company rents the property from Comlec Units Partnership.

Over the last decade, Comlec acquired the sole distributorship for Schabmuller GmbH. It is also the only authorised repair centre for Pyroban in the UK and the only authorised electric motor repair centre for Sauer Danfoss.

Blackwell says Comlec will honour any genuine warranty that was issued by Comlec Units Ltd for customers who continue trading with the partnership company, Comlec Units.

A creditors' meeting is scheduled for May 27.