Around 62 jobs are thought to have been lost at bakery equipment manufacturer Turkington Europe, after the firm was placed in administration.
Joint administrators Andrew Haslam and Gerald Krasner of Begbies Taynor sent a statement of proposals to known creditors last month. Within it, the administrators said they believed that the preferred option of rescuing the business as a going concern was not achieveable.
BTG Corporate Finance had undertaken a marketing exercise for the sale of the business before the administrators were called in, but no interested parties stepped forward.
A significant proportion of the firm’s turnover was also from sub-contracted work from its holding company Turkington USA, which had been placed into receivership in the US.
Turkington Europe, based at Billington Industrial Estate in Burnley, primarily manufactured industrial ovens.
According the company’s most recent accounts, filed at Companies House, the firm employed 63 people as of 31 December.