Rockingham Box, the rigid and folded carton manufacturer that went into administration in August, is to close its doors for good on Friday (21 December), with the loss of almost 80 jobs.
An employee at the Kettering firm told Packaging News that since going into administration, there had been concerns for the employees' future, but that administrators had previously said that wages and Christmas holidays would be paid.
"There's a lot of understandably angry people who've been told about this late in the day," he said.
He added that there were concerns among staff that overtime would not be paid.
However, Nicholas O'Reilly of financial services group Vantis said that the administrators were "committed" to paying for all work undertaken during the administration period.
"We didn't feel it was fair to keep staff hanging on [about the future of the business] over the Christmas period," he said.
He added that it had not been possible to find a buyer for the business as a going concern and the next step would be to try and sell off the plants.
Rockingham Box was the subject of a management buyout by managing director Geoff Grant and colleague Keith Robinson in March 2007, after which the name was changed from Seddon Packaging and Print.
The company reported a turnover of £4m in 2005, the last period for which information is available, down 22% on the previous year. It also recorded a pre-tax loss of £240,000, compared with £491,000 in 2004.
Rockingham Box produces a range of rigid and folding carton boxes, jigsaws and also offers printing and contract packing services.
Source: packagingnews
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment