We have offered assistance to the maximum level allowable within state aid rules to the company. However, this offer was not taken up by the company, because of their worsening financial and competitive position.
The company’s senior management have thanked the Welsh Government for our offer of support and for the speed and flexibility with which we responded, however, they have reluctantly decided that it is in the best interests of its employees and partners to file for administration, when a buyer for the business may be identified.
We will now work with the Administrators, Grant Thornton, to explore all options for securing the future of the company and we will of course discuss packages of support with any potential buyers.
More top news
A special service is being held in Swansea city centre to remember a popular homeless man who died earlier this week.
Former Cardiff Blues captain Andries Pretorius has been forced to retire from the sport after being diagnosed with a muscle disorder.
As the Met Office issues a cold weather warning, spare a thought for the chimps struggling to keep warm at this Ape and Monkey Sanctuary.