STAFFORDSHIRE, England (Jan. 29, 2009)—Stafford Rubber Co., based in Staffordshire, has gone into administration in the wake of falling orders.
Ian Gould and Brian Hamblin—corporate recovery partners at the Birmingham, England, office of PKF Accountants—have been appointed administrators.
Sixty of the 80-strong work force have been laid off.
The company makes molded goods for the automotive sector using neoprene, EPDM and polyurethane as well as some plastics. The company makes some gap sealing products as well as gaskets for lamps and mirrors.
Gould said Stafford Rubber's troubles followed a fall-off in orders and were directly related to the car industry's current troubles. He said the future of the business largely depended on discussions with major customers, including Jaguar Land Rover.