Almost 50 jobs are under threat as “imminent closure” looms at a fridge repair and servicing firm which has a depot in Spalding.
Administrators were called in at WR Refrigeration, which has premises in Woolram Wygate, earlier this month.
Despite turnover for the year to December 31, 2012, of £58million, the company has experienced difficult trading conditions in recent months, which led to a need for additional funding.
Existing lenders and owners made a significant investment in an attempt to turn the business round, but further losses and cash pressures led to a winding up petition.
Eddie Williams, joint administrator, said: “Our immediate priority is to engage with employees, key customers and suppliers and to rapidly review the company’s financial position and its underlying profitability.
“We are pleased to confirm that employees will be paid for work done prior to our appointment. Also, ongoing wages will be paid until further notice.
“However, unfortunately, the level of losses and funding requirements mean that the business may not be able to continue to trade and faces the real risk of imminent closure.”
WR Refrigeration’s head office is in Leicester, with five regional depots employing a total of 600 staff and a number of contractors.