Further to the announcement last week that Aperture Trading, formerly Synseal, had entered into administration, it has been reported that 121 staff of the 451 strong work force were made redundant.
According to administrators, the business will attempt to keep trading while they seek a buyer for the business, with 330 members of staff retained during this process.
Speaking to Business Link East Midlands last week, Tim Bateson, restructuring director at KPMG, said: “Despite significant and ongoing restructuring of the business last year following its acquisition of Synseal Group’s assets, Aperture Trading has suffered from significant market headwinds, trading pressures and a decline in sales.
“Over the last few weeks, we have been exploring sale options for the company and unfortunately none of the interest received presented a viable solution. As a result, this led the directors to take the difficult decision of placing the company into administration.
“Our focus over the coming days and weeks will be to seek a buyer for the various elements of the business and to liaise with those employees who have been made redundant, ensuring they are provided with the support and information they need.”