I saw on a Facebook group that the administrators are not planning to supply parts to those with part built models. Doors are shut and that is it, apparently.

I have just looked their forum which has a posting, 5.52pm on 8 May, saying that an Indian company has bought the business. Could be rumour etc.

JA

Crucially what sort of drawings are supplied with the kit?

Quite likely an Indian company would buy them, as STW would have been a big customer for them. This could be a lifeline.

I understood most of their castings were from India. This is the 4th time they went bust,

Chris Gunn

If there’s that many about they might be a first port of call for help/drawings etc.

Les – 

Maybe so but that’s a bit harsh on those now faced with an expensively half-built engine.

One might hope for another supplier to buy the remaining stocks to sell on to those able to prove the stage they have reached; but if STW was working some sort of “just in time” arrangement, there may be few if any such stocks available.

It is very sad – for the dozen or so staff as well as customers, of course.

Would there even have been much stock apart from common smaller components?

Do these kit-subscription firms use a sort of “just-in-time” system, so the next set of bits are not actually made until nearly time for posting them to the customer?

If so buying an entire box of parts would not have been possible – but for the company to have ordered whole batches of entire kits in the hope of selling them all in trickles of bits and pieces over the next couple of years or so, would not seem commercially sensible.

It must be a gamble even for the like of Blackgates and Reeves, who sell castings sets with no set duty on customers to purchase the lot in one go; but giving the freedom to do so. They do seem to end up with occasional clearance sales of orphaned castings, some of them foundry over-runs, but STW, Winsons etc. all invested in selling machined parts – an even bigger investment – and by piecemeal sales.

It can only work if the builders’ orders for the next set of parts are what trigger the company’s orders to its suppliers, but even then it seems commercially risky.

It will be interesting to see what happens in this case, with allegations- and they are only allegations – of asset-stripping, and liquidators who clearly don’t care about the customers, only the debts to the banks (and their own fees). Who bought apparently only the name (if all the physical assets have gone by auction), and for what purpose?

I have just paused to look on’net.

Companies House shows a peculiar history, with a Dean Rogers floating in and out of the boardroom over the firm’s 16 year life, a Stephen Baldock whose name rings a bell for me (I wonder if the same man, the model-engineer who built a large-scale replica of the [Burrel?] caterpiller-tracked traction-engine?), and the involvement of a firm called Asco Fixings Ltd.

Asco is a very small company based in London but using factories in “low cost India” – its own web-site tells us – making primarily specific fasteners and other small components for manufacturers of complete machines.

Presumably Asco was making components for the traction-engine kits, but it seemed to have taken a shareholding or directorial interest in STW. too. Quite why, is hard to understand despite the very wide range of its customer-companies’ products.

Ironically, or oddly, the Steam Traction World website’s main page tells us it was liquidated (by Bridgestone Insolvency Practioners) on May 8th, but the rest of the blurb is all there, pretty pictures, Forum invitations and all.

I don’t understand balance-sheets as an accountant would; but those published by Companies House suggest to me that STW never had a huge amount of money by commercial standards, a rather low turn-over, and slowly diminishing capital.

Nor did it seem to have very valuable assets by the end, although none are itemised or classified. That might explain Bridgestone’s lack of interest in the unfortunate customers: there were few or no further engine parts to sell.

If you want examples of batches of parts being made then look at this STW Facebook page. Even the boilers go into a CNC machine a few times. They even do the hydro test in batches linking many boilers together and just using one pump.

Also interesting to see how much is cut from solid rather than using castings, for example the cylinders for the 2″ traction engines are cut from solid where as most people making their own would by castings. many bespoke jugs and jaws for second ops which is why it pays to work in batches as once set up you only need swap parts and can be onto the next machine while the first is beavering away.

https://www.facebook.com/groups/1171730757476999/

Steve’s tracked engine was very nice machine