Jobs axe at Ipswich firm

MORE than 20 staff at an Ipswich factory have lost their jobs without being paid back-dated wages or redundancy pay, it was claimed today.Multicolor UK, whose factory is in the Drift off Nacton Road, called in administrators McTear, Williams and Wood yesterday afternoon after the company's German parent, Silfox Holdings, withdrew its financial backing.

MORE than 20 staff at an Ipswich factory have lost their jobs without being paid back-dated wages or redundancy pay, it was claimed today.

Multicolor UK, whose factory is in the Drift off Nacton Road, called in administrators McTear, Williams and Wood yesterday afternoon after the company's German parent, Silfox Holdings, withdrew its financial backing.

Administrators Andrew McTear and Chris Williams hope to restructure the company so it can continue trading or sell it on to another firm.

However 22 of the company's 56 employees lost their jobs immediately after the administrators moved in.

Multicolor UK has been trading since 1962 and specialises in printing cards and plastic promotional material. Last year it had a turnover of £3.5 million.

Today an employee who lost his job along with 21 others, said staff felt betrayed by the sudden decision.

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The employee, who asked not to be named, said: “We went to work as usual yesterday and were all called to a meeting just after lunch.

“We were told that the administrators had been called in and that there was no money to pay last week's wages.

“We were also told that some of us would be losing our jobs but that there was no money to pay redundancy. Those of us who lost our jobs now have to apply to the government for redundancy pay.”

He and his colleagues felt let down because they had been told that the company had a rosy future.

“We had been told that a management buy-out was coming and had been asked not to say anything about this.

“We all kept to our part of the bargain, but then they have turned around us and kicked us out like this - we feel betrayed,” he said.

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