ADMINISTRATORS are in at Lister Petter in Dursley where more redundancies were expected to be announced at the 150 year old firm today.
Insolvency practitioners CBA were at the diesel engine factory in Stroud which has already shed 77 jobs in the past few months.
Regional officer for Unite the union Trevor Hall said at least it wasn’t yet liquidation.
About 100 office and shop floor employees were expected to be retained after the new round of proably 30 redundancies, he said.
Mr Hall, who had met the administrators, understood that CBA were trying to work out what there was to sell.
But the chances of finding a buyer within the timescale of perhaps only a fortnight were “at best 50-50” Mr Hall said.
“It is really sad, it is devastating,” said Mr Hall who himself lived in Dursley and worked at Lister Petter years ago.
“They’ve a £20million order book. What is the problem is the debts - who would want to buy it?”
Stroud MP Neil Carmichael said obviously he was very sorry for everybody who was going to lose their jobs.
But he warned: “If there is too much debt it is going to be problematic.”
Chairman of Stroud District Council Coun Geoff Wheeler recently co-ordinated the launch of a multi-agency task force to tackle the total of 150 recent jobs losses in Cam, Dursley and Berkeley.
He said: “There is huge regret that these jobs have now been lost and sympathy for people being made redundant, and their families.”
Coun Wheeler said Lister Petter was still a world wide name.
“It is a huge shame,” he said.
Lister Petter had been on the verge of relocating to Hardwicke. The company was founded in 1867 when Robert Aston Lister began repairing farm machinery form a water mill in Dursley.
The town’s modern wealth throughout the 1960s and 70s was built on Lister’s, which in its heyday employed upwards of 3,000 people.
In 1967 10,000 people packed Dursley for a party to celebrate Lister’s centenary.
No-one from CBA was available for comment at Lister Petter this morning.