Gloucestershire jobs lost following collapse of window manufacturer
A number of jobs have been lost at a factory in Tewkesbury following the collapse of a window and door manufacturer.
UK Windows and Doors has been placed into administration resulting in the loss of more than 500 jobs.
The bulk of the jobs losses are at sites across South Wales as well as sites in Gloucestershire and Bedfordshire.
The firm’s chief executive said a drop in sales and the loss of a key contract meant the business had become financially unsustainable.
Administrators Teneo said the firm’s “sevenday” business had been sold off, preserving 91 jobs.
It also said 73 employees would be retained during the administration process.
“Recent economic uncertainty due to high consumer price inflation, rising interest costs and the associated reduction in consumer confidence has led to house builders slowing down their build programmes and retail window companies experiencing a fall in demand,” the administrators said.
“This has resulted in a further large reduction in demand for the company’s products, leading to losses and associated funding requirements at an unsustainable level.”