The message to milk buyers and retailers today is that the Great Milk Robbery is unfinished business.NI machinery firm in administration
NORTHERN Irish firm Redrock Engineering has been placed into administration, suspending production and putting up to 80 jobs at risk.
The company, based in County Armagh, manufactures and supplies diet feeders, silage trailers and a range of other agricultural equipment.
The decision to call in receivers was made following a ‘substantial reduction’ in demand over the past 18 months as well as difficult trading conditions brought on by the recession.
Managing director Samuel Hughes said: “Up until this point we have been a successful company, however we have found it increasingly difficult to manage the downturn in spending in both the agricultural and construction markets.
“We have been faced with major cash flow challenges that have become impossible to sustain. Given the significant financial difficulties we had no choice but to appoint administrators.”
Production at the firm’s base was suspended last week as administrators from Cavanagh Kelly Chartered Accountants were called in to assess the options for the business.
This may include selling it off as a going concern, although the firm will continue to trade in the interim.
Mr Hughes said it was a ‘sudden and distressing situation’ and paid tribute to the 80 staff at the company whose futures remain uncertain.
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