HUNDREDS of jobs have been lost after an aircraft maintenance company went into administration.
It is thought more than 300 of the 383 staff at ATC Lasham, based at the airfield in Lasham and at Southend Airport, have lost their jobs.
Richard Lewis and Nigel Morrison were appointed as joint administrators on October 2.
They confirmed that turnover was £46.6m in the last financial year but loses were incurred in that year and have continued in the year to date.
A statement from the administrators said: “Following the normal reduction in work over the summer months, orders have failed to increase to fill the winter programme for 2015/16. The directors had been seeking additional investment into the business but these discussions proved unsuccessful.
“The current outlook and forecast cash flow requirements have left the directors with no alternative other than to seek the appointment of administrators.”
Nicolas Cook, the company’s director, expressed regret over the closure of ATC Lasham.
He said: “It is with regret that after 22 years ATC Lasham must cease trading due to the significant lack of work going forward.
“We would like to thank all the workforce for the constant support and hard work over the years.”
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