Jobs axed as firm hit by credit crunch
Saturday 29th November 2008, 11:19AM GMT.
A haulage firm in Telford has fallen victim to the credit crunch, with 45 workers losing their jobs just before Christmas.
RHP Telford, which is based in Stafford Park 18, will continue to run a slimmed-down operation for the time being with the remaining 27 employees.
But their ultimate fate depends on whether a buyer can be found for the ailing business.
The specialist road haulage and logistics contractor went into administration yesterday.
Kim Rayment and Toby Underwood, business restructuring partners at London-based BDO Stoy Hayward LLP, were appointed as joint administrators of the company.
Mr Rayment said: “The company has suffered as a result of the recent downturn and, unfortunately, 45 staff have been made redundant.”
Today’s news is the latest of a series of credit crunch blows for Telford.
Yesterday, bosses at the big GKN Sankey factory at Hadley Castle told workers they would be laid off for four weeks over Christmas – just two weeks after they announced 90 jobs would be axed. They blamed a nose-dive in orders.
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