Jobs go at circuit board maker
A North West manufacturer of printed circuit boards has been placed into administration with the loss of 55 jobs.
Lancashire-based Invotec Circuits Blackburn, has been hit by a slump in demand for its products, which are used in electronic systems in the energy and transport sectors.
Insolvency firm MCR was appointed administrator yesterday and has cut 55 jobs out of the workforce of 90.
It will try and sell the remaining business as a going concern.
Parent company, the £30m turnover Invotec Group and its sister company in Tamworth, Staffordshire, are not affected by the insolvency and are continuing to trade.
Administrator David Whitehouse, a partner at MCR’s Manchester office said:”Invotec Circuits Blackburn Ltd has been directly affected by the economic downturn and the notable decline in demand from its major European customers.
“Compounding an already tight squeeze on cash flow has been continued pressure on funding. MCR has been appointed as administrators and we are currently pursuing a sale of the company and its assets.”
He said that if a sale was not possible, the firm’s stock, intellectual property rights, plant and machinery would be sold off.
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Meanwhile, more than 30 jobs have been lost with the closure of a Cheshire construction firms.
Northwich-based Hankinsons Construction went into voluntary liquidation last week with the loss of 36 jobs.
The company, which was founded in 1926, blamed a slump in demand.
Hankinsons, based on Middlewich Road, Northwich, was involved in a range of residential and commercial developments, from extending the Roberts Bakery factory in Northwich to the Queen Street residential scheme in Knutsford.
