Paignton electronics firm Syntech closes
Eighty five people have lost their jobs after an electronics firm in Paignton ceased trading.
Syntech, which makes wireless components, went under when the sale of the business fell through at the last minute said administrators.
The firm, which once had a £10m-a-year turnover, was suffering from cash flow problems despite a strong order book, they said.
Syntech was based at the former Nortel Networks site at Long Road.'Hugely regrettable'
The firm was established in June 1999 following the closure of Nortel.
It is owned by Mike Badcott, a former design engineer at Nortel who, with another Nortel worker Malcolm Keat, used their redundancy money to set up Syntech.
Products include handheld communication devices, medical and industrial electronics and satellite tracking.
Administrators FRP Advisory have not ruled out the possibility of selling the business.
A spokesman said there was "no choice" other than going into administration after the sale fell through.
"It is hugely regrettable, not just for the company but also the regional business community."