Jobs axed as firm closes
Tuesday 28th October 2008, 11:30AM GMT.
Thirty-eight people at a tool manufacturer near Tenbury Wells have lost their jobs as the company has gone into receivership.
Staff at Richard Lloyd Ltd in Boraston Lane, Burford, were told to clear their lockers last Tuesday.
The company, which was founded in 1803, has been “struggling” and making cutbacks.
On Friday, restructuring and recovery professionals at the Birmingham branch of Baker Tilly were appointed as administrators.
Guy Mander, a partner at Baker Tilly, said: “Richard Lloyd had been struggling financially due to a reduction in turnover and an increase in raw materials and energy costs.
“Management formed the view that the company was unable to continue to trade and made all 38 employees redundant on Tuesday, prior to the administrators’ appointment.”
A worker, who wished to remain anonymous, said: “We were called into the canteen and told to clear our lockers and go.
“We went back in on Thursday to fill in forms for redundancy and for pay we were owed for last week, and all the other stuff.
“People were quite calm. A lot of workers have been there all their lives. There are several there for whom it’s the only job they have ever had.”
Malvern Hills district councillor Phil Grove said: “The company has been having problems for years. I am very disappointed.”
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