Type
Closure
Country
United Kingdom
Region
North East; Northumberland and Tyne and Wear; Northumberland
Location of affected unit(s)
Newton Aycliffe
Sector
Manufacturing
Manufacture Of Basic Metal And Fabricated Metal Products
Manufacture Of Fabricated Metal Products, Except Machinery And Equipment
25.5 - Forging, pressing, stamping and roll-forming of metal; powder metallurgy

100 - 292 jobs
Number of planned job losses
Job loss
Announcement Date
3 November 2004
Employment effect (start)
Foreseen end date
31 December 2004

Description

Administrators were brought in to Pressworks Metals in Newton Aycliffe after the company suffered a massive cash flow crisis. More than 100 staff have already lost their jobs and the remaining 192 only have guaranteed work until Christmas.


Sources

  • 3 November 2004: BBC News

Citation

Eurofound (2004), Pressworks Metals, Closure in United Kingdom, factsheet number 60785, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60785.