Alcester-based, EIC Limited, has gone into administration after suffering from a period of poor trading and increasing competition within the sector.
Joint administrators, Kevin Coates, Sarah O’Toole and Catherine Williamson from AlixPartners, were appointed joint administrators on the 16th June.
In a statement they said, “After exploring all options available, management concluded that the cash pressures were too great and there was no alternative but to place the company into administration.”
398 employees have been made redundant while 10 employees have been kept on to assist with the winding down of the company.
If you are an employee of the business, please listen to the video below as it will tell you your rights as an employee of an insolvent business. There is a link at the end of the video to the Government website which expands further on what you need to know. Questions should be directed to AlixPartners who are handling the administration.