Jobs go in chemical firm insolvency

A NORTH West chemicals company is looking for a new owner after cashflow problems saw it placed into administration.

More than 30 jobs have been lost already at Phoenix Chemicals of Bromborough, Wirral, which employed 112 people across its head office and a Scottish location in Annan.

Administrators RSM Tenon have cut 29 jobs in Bromborough and 7 in Annan.

RSM Tenon, who were appointed yesterday, said the Phoenix had been seeking further external investment over recent months,  but after a period of low sales and operational delays in production ,had fallen into cash flow difficulties.

Joint administrator Chris Ratten said: “We are looking to keep trading the company over the next few weeks whilst we market the business and assets for sale.”

Founded 20 years ago this year, Phoenix Chemicals had sales of £8m in the year to April 2009. The company specialises in continuous processing technology for  fine chemicals manufacturing.