Wrexham Company in Administration as members of staff are made redundant

Relocating in Wrexham, a firm which majors in car components has gone into adminstration. Cobra UK moved from Powys eight months ago, and now, 18 members of staff have been made redundant. However, 120 of the current members of staff remain employed as the firm is for sale.

The company currently has a £12 million order from Vauxhall, a major car firm. The popular car company has ordered various interior parts for the new model of the Astra. The company makes materials for Bentley, Audi and Volvo cars.

Kim Rayment, joint administrator of the company, said that the economic climate in the country has affected the business greatly, but there is still hope of a sale and trading continues.

Last Christmas, Cobra UK expanded by taking over a building in Wrexham that was 70,000 square feet. This move was supported by the Welsh government, which has a business finance scheme.

Cobra UK was on the brink of getting support from a German company, which would have helped greatly with even further expansion.

Bankers of Cobra have called a large loan at very short notice, according to reputable sources. One source stated that there is still hope that the deal will be sealed, even though it seems there is very little chance. Staff involved in the company are reportedly “devastated” that they came so close to the deal, yet it was never secured.

A spokesperson from the Welsh government reported that officials are in touch with Cobra UK and are hoping that some of the jobs can be saved.

Also in Wrexham, 46 jobs have been lost at Hoya Lens UK, a company owned by a Japanese firm. This may come as no surprise to some people, as last year, they laid off half their 320-strong workforce.