Jobs go as Great Yarmouth’s Norfolk Capacitors seeks new owner
ADMINISTRATORS were appointed today to Great Yarmouth-based manufacturer Norfolk Capacitors Limited
The company, employs a total of 106 employees across its two sites in Yarmouth anjd Gorleston currently operates three, eight-hour shift rotas bu the joint administrators have taken the decision to cease operating one of the shifts, resulting in 20 redundancies on appointment.
Chris Pole, one of the joint administrators, said: 'Unfortunately, problems relating to the investment in a new production facility at the same time as securing a major new contract created significant and irresolvable cash flow issues for the business.
'Whilst we are currently reviewing the position, it is our intention to continue to trade this business in the short term whilst we explore the possibility of achieving a going concern sale. Norfolk Capacitors is an important employer in the region, and a historically successful business and we are hopeful a new owner can be found.'
Any interested parties should contact Tim Bateson on 0115 935 3498.