18 jobs go at CobraUK

 

Administrators moved in last week at the company which recently switched from Welshpool to Wrexham with most of the employees still from this area.

 

The award-winning company manufactures and supplies products to the automotive industry and moved north to expand and cope with what looked like an expanding order book.

 

But a statement from BDO LLP business restructuring partners, Kim Rayment and Tracey Pye, who are Joint Administrators, said that “regrettably it was necessary on 28 August 2012 to make 18 employees redundant. 120 employees continue to be employed by the Company”.

 

It said that the Joint Administrators are continuing to trade the company with a view to achieving a sale of the business as a going concern.

 

Kim Rayment said: “Unfortunately the economic climate and difficult trading conditions significantly affected the business. However, we are hopeful of securing a sale and the Company will continue to trade whilst this is explored.”