WASHINGTON, ENGLAND – Faraday Printed Circuits, a UK-based PCB supplier that operated for more than 35 years, has closed its doors after a drop in orders amid challenging trading conditions.

The company, which was established in 1987 and had expanded from a 4,000 sq. ft. operation to a 22,300 sq. ft. site, fell into administration under FRP Advisory, but the firm was unable to find a buyer for the company.

"Unfortunately, like many other businesses in the manufacturing industry, Faraday Printed Circuits was not immune to a significant fall in demand and mounting external pressures, most notably rising costs, made the business financially unviable," said Joint administrator and FRP Restructuring Advisory Partner Allan Kelly. "Regrettably, this meant 39 employees have now been made redundant. We’re supporting the individuals affected with filing their claims with the Redundancy Payments Service."

The administrators are now preparing to sell the company’s assets and have urged interested parties to get in touch. In the company’s accounts to the year ending May 31 2023, its fixed assets were valued at around £737,000 ($930,000), while liabilities amounted to approximately £1.2 million ($1.5 million).