All 48 staff at Jarose Woodworking have been laid off by administrators from KPMG’s restructuring team.
Howard Smith and Mark Firmin from KPMG had operated the firm since being brought in at the beginning of the month, completing outstanding work in progress.
But operations have now been ceased and all of its employees made redundant.
Howard Smith, joint administrator and restructuring associate partner at KPMG, said: “Declining sales at Jarose Woodworking significantly impacted cash flow and the business’ ability to meet its liabilities.
“The Joint administrators are exploring options to realise the best results for the Company’s creditors.”
“We have assisted the affected employees in their claims to the redundancy payments office.”