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1,042 jobs axed at Auto Windscreens
Tuesday March 1st 2011
More than 1,000 workers at Auto Windscreens have been made redundant.
The news of the 1,042 job losses came after administrators said attempts to save the Chesterfield-based car windscreen firm had failed.
Deloitte announced the firm's closure after not being able to get an offer for the business as a whole.
The administrators had hoped to keep the business running while they sought a buyer after its collapse.
Most staff had already been sent home after the company went into administration on February 14, and the company was officially closed on Friday, when all workers were laid off.
Administrators said that, despite 90 approaches, they were unable to find a buyer and efforts to raise financing also failed.
Chris Farrington, joint liquidator and partner at Deloitte, said: "We approached the major customers to seek urgent funding, but unfortunately none of these customers were able to assist. Whilst the intensive marketing process resulted in over 90 expressions of interest, no party made an offer for the business as a whole."
Auto Windscreens operated 68 fitting centres across the UK, 550 mobile units, a distribution centre in Aston, Birmingham, and a central call centre.
The company was undergoing a recovery programme, but hit trouble over delays in bringing in IT systems, coupled with lower-than-expected revenues in the final quarter of 2010, which led to cashflow pressures.
Copyright © Press Association 2011
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