OVER 80 jobs have been lost at a Wrexham wire company that has gone into administration.

Unite union says Holt-based Wrexham Wire, a manufacturer of cold heading wire, has gone into administration with the loss of 81 jobs.

In recent months, the business had been marketed for sale in a bid to find a buyer. However, without any viable offers or prospect of investment, the company was placed into administration.

Unite has described the news as "devastating" for its workforce.

Dave Griffiths, Unite Wales regional officer, said: "Unite the Union have been informed this morning that the workforce at Wrexham Wire who were currently on shutdown have lost their jobs due to the company being put into administration. This is devastating news for a loyal workforce that has seen the savage blow of administration before, when they worked for and were owned by Caparo Wire.

"Unite intends to pursue a ‘Protective’ Award for its members and has spoken to the administrators today to see if there is potential for the company to be purchased from administration.

"Our position now is to help our members access all available help with retraining through our Wales Union Learning Fund project. Unite will do everything it can to support our members through these dark times”.

The site has been closed since August 3 as part of its annual managed shut down.

Anthony Collier and Ben Woolrych, partners at specialist business advisory firm FRP, were appointed as Joint Administrators to Wrexham Wire on Wednesday (August 5).

The business had ceased to trade prior to the Joint Administrators appointment who are now continuing with the wind down of the business.

FRP says the roles of 81 staff were made redundant shortly following appointment, while seven staff have been retained to support the orderly closure of the site and assist the administrators in their duties.

Anthony Collier, restructuring partner at FRP and Joint Administrator, said: “Wrexham Wire, like many of Britain’s industrial businesses, has faced a catalogue of challenges in recent months as it contended with a weakening global economy, political uncertainty and the disruption of the pandemic. These factors have also dampened the supply of much needed investment, without which the business could not continue to trade sustainably.”

“We would encourage any parties with an interest in acquiring the business or its assets to make contact with us as soon as possible.

“Our specialist team is on site and online to support all the affected employees through this extremely difficult period as they make claims to the Redundancy Payments Service.”

Wrexham Wire has been approached for comment.