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Fears for 200 jobs at Ecomold
MORE than 200 jobs are under threat after administrators were called in at a plastics factory.
Workers at Ecomold, based at the former EK Cole site on the Prittlebrook Industrial Estate, Southend, are anxiously waiting to see if a buyer can be found for the troubled business, which makes moulds for the motor industry.
One employee said: "Everyone was really upset about it, especially as it comes in the run-up to Christmas.We're hoping someone's going to come in and buy us out as a going concern."
Ecomold specialises in plastic-injection moulds for car parts such as bumpers and instrument panels. It has contracts with companies including Ford, Jaguar, Bentley and Land Rover.
James Money and Mark Orton, from KPMG Restructuring, have been appointed joint administrators.
A statement from KPMG said there had been significant trading losses and cash flow problems forced the directors to call in the administrators.
Mr Money said: "With its highly-skilled and experienced workforce, Ecomold has a fantastic reputation in the marketplace and we expect a lot of interest in the business."
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