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The Masked Tulip

Aluminium Firm Glamalco Collapses With 140 Jobs Lost

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http://www.bbc.co.uk/news/uk-wales-11862144

A Cardiff-based company which has been trading for almost 40 years ago has made 140 people redundant before going into administration.

Glamalco, whose main site is on Ipswich Road, employs 156 staff across three sites making and installing aluminium materials in the construction industry.

Sixteen staff have been retained to help administrators KPMG.

KPMG said the redundancies were made before the company went into administration.

Joff Pope, joint administrator and associate partner at KPMG said: "Glamalco has encountered cashflow difficulties, which has resulted in its inability to fund ongoing construction contracts, and unfortunately, the business is unable to continue to trade.

"We will now be pursuing an orderly wind-down of the business."

Glamalco has three sites - in Cardiff, Andover in Hampshire and Redditch in Worcestershire.

The company was created in the early 1970s as Glamorgan Aluminium with a staff of five working on shop fronts and domestic windows.

The administrators have been appointed for Glamalco and the holding company, Glamorgan Aluminium Co Ltd.

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WTF! You mean we've been lied to? :o

Pass the tin foil and hat making instructions!

And whilst you're at it, perhaps a tin foil wallet too. You can get the plans here: http://contactless.wordpress.com/2010/10/25/rfid-shielding-case-%E2%80%93-diy-option/ :lol:

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It's a great shame when a company that has been going for 40 years folds, some of the employees will have spent effectively their whole working life there.

I presume the owners got greedy for either market share or dividends.

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180 days credit!

Wow. That's just stupid. I always think asking for 90 is cheeky.

I get people asking me for 14 days, I tell them no and then they moan about me to other staff. I didn't realise how generous I was being with 30 days.

I've seen several local examples - construction / maintenance - where the companies have been either well run or run ok for a dozen years or more and then they just seemed to "forget" everything they knew about running a decent business and they've gone under. Started in 2008 and its kept going. Connaught (not local but works local) and Rok (Exeter) the last two. Rok for doing "suicidal" pricing. It's not just the banks that lack common sense.

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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