Administrators have made 193 workers redundant at Palgrave Brown after conducting an immediate review of the business.
BDO Stoy Hayward, which was appointed administrator of the UK’s biggest roof truss manufacturer on November 4, released the news today and said it regretted the need to axe jobs.
But Graham Newton, partner at BDO Stoy Hayward, said the administrators were still working to secure a going concern sale of the business to protect almost 300 jobs in the region.
“Palgrave Brown is a well-established business which, through its strong and well-deserved reputation, has become one of the leaders in its field in the UK,” he said.
“Despite this and following an immediate business review, regrettably, it has been necessary to make 200 staff redundant.”
