Coventry-based electric van manufacturer Modec has entered into administration, making about half of its staff redundant.
Ryan Grant, Simon Appell and Anne O’Keefem, partners at Zolfo Cooper, have been appointed administrators to the company, which employs 53 people, 26 of whom were sacked after the revelation that the company had entered administration. Commenting, Ryan Grant said: “Unfortunately, the business has experienced severe cash flow difficulties in recent times. This, combined with…
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