Coventry & Warwickshire

No buyer for electric car maker Modec

Modec vehicles in production
Image caption The electric vehicle manufacturer was taken over by administrator Zolfo Cooper on 4 March

Administrators for an electric van maker say they have been unable to find a suitable buyer for the business as a going concern.

Modec, in Binley, Coventry, was taken over by administrator Zolfo Cooper on 4 March, when 25 out of 63 staff were made redundant.

Zolfo Cooper said it had no choice but to cease trading and make the majority of the remaining employees redundant.

But it has been able to achieve a sale of the remaining assets of the company.

A small number of employees will stay on at the site in the short term to help with winding down operations.

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