Workers made redundant as car parts firm closes (From Warrington Guardian)

Workers made redundant as car parts firm closes

WORKERS at P&F Congleton have been dealt a major New Year blow after the car parts manufacturer was forced to close down its 23-acre site.

Some 65 workers at the Bromley Road company were made redundant after the administrators failed to secure an offer that would have saved the business.

Administrator BDO Stoy Hayward had been confident of securing a sale, and believes the site still has development potential.

Dermot Power, joint administrator, said: "While the level of interest expressed in the business was encouraging, unfortunately no acceptable offers were received.

"Consequently, it has been necessary to cease production.

"Twenty employees have been retained to assist the administrators in returning tools to the company's customers.

"The site may have significant development potential, and we welcome offers."

P&F Congleton had called in the administrators after failing to raise sufficient funds to stay afloat.

A lack of investment and increase in the cost of steel have been blamed for the demise of the company, which had an annual turnover of £15 million.

The company was a key components manufacturer that played an important role in the UK's motor industry, and the Bromley Road site had been used to manufacture car parts since the 1940s.

Staff at the site were devastated by the news.

Peter Faulkner, who worked for the company for nine years, said: "A lot of us are absolutely sickened, and it has hit us like a brick.

"A lot of people have mortgages and families, and it will be a real struggle for them."