That's really sad. 😞
When I lived in Derby in the 70s-80s Mercian's unit was about ¼ mile from my house, and they did the first repaint on my 1963 Moulton Safari sometime in 1979. It still bears their paint to this day, and I think it'll outlast me!
They made superb frames, some of which weighed almost nothing, even though they were steel frames, not carbon or aluminium.
A sad loss.
Kit