The firm, which is based in Selbourne Road, has now ceased trading and administrators from Begbies Traynor are working to find a buyer for the firm or its assets.

A spokesman for Begbies said: “We are undoubtedly conscious of the effects that the redundancies will have on the company’s workforce, and the individuals concerned however there is no other option at this time given the financial position of the company.

“We will be working extremely hard to assess all viable options for the future of the business and are hopeful that we will find a purchaser for the whole or part of the business in the near future, which will allow for some employees to secure ongoing employment.

He added: “While there are enquiries from certain interested parties, the outcome is far from certain at present”

“For enquiries regarding the company, contact the Begbies Traynor’s London office on 0207 398 3800.”

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