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
Chilly in places with fog tending to clear to leave a bright and mostly sunny morning.
Rain and low cloud will clear to the south leaving a dry night with light winds. It will turn colder under clear spells.
A cash boost of £10m will go towards a decade-long plan to end youth homelessness in Wales.