Around 680 staff have been made redundant at window and door manufacturer and seller Safestyle.
The business had gone into administration and the GMB union had expected up to 600 job losses.
But on Monday, administrators Interpath Advisory were appointed and said the number was around 680 workers: only 70 of the roughly 750 have been retained.
Staff were unexpectedly texted to “down tools” on Friday evening at the Bradford, Yorkshire headquartered company.
Employees worked at a factory in Wombwell, near Barnsley, and in 42 sales branches and installation depots across the UK.
Before the weekend, on Friday, the Safestyle board filed a notice of intention to appoint administrators and said the company could not continue trading as a going concern.
Trading in company shares on Friday morning was temporarily suspended, “pending clarification of the company’s financial position”, a regulatory notice said.
Additional funds had been sought but on Thursday the company said it did not expect to be in receipt of capital or new financing.
A buyer for Safestyle was also sought but despite interest from “a number of parties”, the administrators said “a solvent solution was unable to be found”.
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Source: news.sky.com
This notice was published: 2023-10-30 14:16:00
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