A long-running Clay Cross company has collapsed into administration – threatening almost 60 jobs.
Mayfly Containers Ltd called in the administrators earlier this month.
The company, which made steel containers for the oil and gas industry, employed 57 people.
Clare Boardman, partner and joint administrator at Deloitte, said: “The turmoil in the oil and gas sector has had a direct impact on the company and customer orders have significantly reduced.
“Unfortunately, without this revenue, or any visibility on its return, the ongoing trade of the company is no longer viable.
“As a result the directors have made the decision to place the company into administration.”
A Deloitte spokesman said: “The joint administrators are now looking to maximise realisations for creditors through the sale of Mayfly’s assets, which comprise a freehold factory, offices an engineering plant and machinery.”
Mayfly Containers Ltd was set up by director Denis Hall and three other staff in 1983.