140 jobs go as Glamalco collapses
One hundred and forty jobs have been axed from aluminium materials supplier, Glamalco. The company, which has a site in Redditch, was placed into administration alongside its holding compnay, Glamorgan Aluminium, after experienceing cashflow difficulties.
Richard Hill and Joff Pope of KPMG have been appointed joint administrators of the Cardiff-based business, which employed 156 staff across three sites in Cardiff, Andover and Redditch.
Glamalco fabricates and installs aluminium materials for customers in the construction industry.
KPMG said 140 redundancies were made prior to the company going into administration, while 16 staff remain employed by the company to assist the administrators with their duties.
Pope, joint administrator and associate partner at KPMG, said: "Glamalco has encountered cashflow difficulties, which has resulted in its inability to fund ongoing construction contracts, and unfortunately, the business is unable to continue to trade. We will now be pursuing an orderly wind-down of the business."
