Malins Engineers in Receivership
The company went into receivership in 1980, mainly due to the fact that the financial outlay on the SP series of engine coupled with the new RS1 and RS2 railway sets had been considerable. Many companies in the early 1980s were experiencing financial difficulties and banks were calling in loans and finance agreements at the time due to the economic downturn. Malins Engineers bank asked Malins to repay some of the money, giving the company the weekend to raise the cash. The company was unable to raise the money went into administration, though it was trading in the black in a few weeks with the new railway sets selling well. Eric Malins, the Managing Director, and Steve Malins, his son, gave up control of the company, thus effectively ending the Malins family's relationship with Mamod.
Since then the company has had a chequered existence with six owners and manufacturing bases. The company nearly went out of existence in 1989. It is currently in the ownership of the Terry family and is now based near its original home at Smethwick in the West Midlands. The company now produces a wide range of mobile engines, stationary models and machine tools as well as gauge O and 1 railway locomotives.
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