52 jobs go as firm enters administration
More than 50 jobs have been lost at a factory after it stopped trading.
Industrial Coating Services in Power Station Road Industrial Estate, Rugeley, had been up for sale but a buyer could not be found before administrators were appointed. It has made 52 redundancies.
Ben Jones of administrators FRP Advisory , said: “Without significant investment or the prospect of new ownership, ICS was unable to trade through its difficulties and continue as a going concern.
“All trading and operations have ceased. Regrettably, all of the 52 employees have been made redundant, although a small number will continue to support the administrators with their statutory duties.”
ICS is thought to have failed because of the impact of a series of loss-making contracts. The company had been working on the refurbishment of Wandsworth Bridge in London.
ICS specialisesd in the surface preparation and application of protective coatings.
