A LEADING Malvern engineering firm which employs 150 people has ceased trading in the town.
Dytecna Limited was plunged into administration two weeks ago but since that date no buyer has been secured and 95 members of staff have subsequently been made redundant.
FRP Advisory was appointed joint administrators on February 4 and has said it are now realising the company’s assets to maximise the position for creditors.
Philip Watkins, joint administrator at FRP Advisory, said: “It goes without saying it is deeply regrettable that a business with such a long history has had to cease trading and close its doors.
“Despite a number of parties expressing an interest in the business, no viable solution unfortunately could be found to enable the business to continue trading.
“As joint administrators our immediate focus will be to assist staff who have lost their jobs and provide them with the necessary support to submit timely claims to the Redundancy Payments Service.”
Prior to entering administration the firm, based next to Malvern Hills Science park, had faced a deterioration in trading which put unsustainable pressure on the business.
Support has already flooded in from Malvern’s MP and the district council for the company and its employees.
Harriet Baldwin, MP for West Worcestershire, said: “I am very sorry to hear a buyer was not found to take over Dytecna as a going concern.
“My thoughts are with the highly-skilled staff at this difficult time.
“My immediate priority is to work with the administrators to make sure that the salaries are paid properly and that employees get swift access to statutory redundancy payments.
“Many local employers are growing and have vacancies at the moment and I urge them to come forward with these opportunities as Dytecna staff are very impressive.
“If any constituent needs individual help with their circumstances, my constituency office right next door can help.”
Phil Grove, portfolio holder for the economy at the district council, added: “We are so sorry to hear the news administrators for Dytecna have failed to find new investors to take the business on and that redundancies will be made.
“We have done everything we can to provide support to staff at this time by liaising with Job Centre Plus, providing advice and information and we will also help by promoting skilled staff to other businesses in the area.”
