Aluminium firm Glamalco collapses with 140 jobs lost
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.
Shadow Minister for Economy and Transport Darren Millar AM said: "Glamalco's announcement is devastating news for all those affected by these redundancies, along with their families.
"With Christmas just around the corner, this news could not have come at a worse time.