Uniglaze to close New Costessey double glazing factory
A Norfolk double glazing company which went into administration earlier this week is to close its factory, with the loss of almost 300 jobs.
Uniglaze called in administrators KPMG after getting into financial difficulties.
It has now said its plant at New Costessey, near Norwich, will close and 137 jobs will be cut, on top of 88 redundancies previously announced.
Sixty workers will stay on temporarily to fulfil outstanding orders.
Uniglaze supplies the building trade and had struggled for a number of years due to the construction slump.Sale chance 'remote'
A deal was reached with creditors when it suffered financial difficulties in 2011, and the 29-year-old company reported a 35% rise in orders between spring and August this year.
But the insolvency of a major customer led to the current situation.
KPMG's Chris Pole said "significant funding" would have been required to keep Uniglaze running under administration.
"From our early discussions with interested parties, it has quickly become apparent that the possibility of selling the business as a going concern is remote," he added.
"We would still encourage anybody interested in acquiring the business or assets to contact the administrators as soon as possible."