William Marshall was based at Carver Street in 1924, from where he sold cased goods, fish eaters, tea spoons, cake knives, ‘to be cleared quick’ (Sheffield Daily Telegraph, 23 December 1924). A ‘Wanted’ advertisement for ‘XYLO CUTLERS – OUTWORKERS’ gives an insight into the firm’s products and working arrangements (Sheffield Daily Telegraph, 25 October 1926).

In 1929, William Marshall registered Highfields Cutlery Forge Ltd, with £5,000 capital. His fellow subscriber was E. West, a metal manufacturer from Birmingham. In the following year, W. Marshall & Co was registered as a private limited company (capital £2,000). William Marshall, who lived at Kendal, The Grove, Heatherfield, Totley, was director and secretary; and E. West was again co-subscriber. 

By the start of 1932,  William Marshall & Co Ltd was in liquidation. The stock of cutlery and plate, besides various items of equipment (electric motors, boring, milling, and buffing machines), were auctioned from Montrose Works, Hardwood Street (Sheffield Daily Telegraph, 2 January 1932). William Marshall attempted to resurrect his fortunes by operating the Sheffield Valve Co at Ball Lane, but by 1938 this business, too, had failed.