PVC compounder Polycol has ceased trading with the loss of 55 jobs. Based in Stalybridge, Cheshire, Polycol was part of the PVC Group, which fell into administration at the beginning of September.
A spokeswoman for the administrators Ernst and Young told PRW.com that a buyer had not been found for the business. Two other companies from the group – PVC Compounds Ltd and PVC Sales Ltd – have also been wound up.
After the PVC Group went into administration, it was reported that three members of the group had been sold as going concerns: Eagley Trade Extrusions Ltd, PVC Powders Ltd, and Pulse Building Plastics.
The closure of Polycol has lifted the number of jobs lost across the group to 94. According to Ernst and Young, 131 jobs have been “secured” through the sale of three businesses.
