A statement that the company made to the London Stock Exchange, read: “Trading on AIM for the under-mentioned securities has been temporarily suspended from 04/01/2021 7:30am, pending publication of the company’s annual audited accounts.”
The shares were priced at 7.4 pence when they were suspended by the Walsall-based firm.
In November, the Chamberlin said that it had furloughed all staff in its machining shop after losing its biggest customer to a competitor.
In a trading update, the company explained: “The company's machine shop has been experiencing volatile demand due to Brexit, Covid-19 and customer safety stock building. The customer of the largest contract representing approximately 75% of the machine shop's output has informed Chamberlin of an earlier transition to the next product evolution which has been awarded to another supplier.
“Ongoing customer orders are likely to be a fraction of the original contract. The company will be pursuing a claim relating to the earlier than planned transition and in the meantime all staff in the machine shop have been furloughed.”
Chamberlin said at the time that it was taking further mitigating actions to reduce costs during the machine shop temporary shut-down, although the financial impact “cannot yet be determined”.
The company added it continues to explore additional manufacturing opportunities for the machining facility with existing Tier 1 customers and prospective new customers.
