Cheshire-based PVC compounder Polycol, has ceased trading, costing 55 jobs. Polycol was part of the PVC Group, which went into administration at the beginning of September.
Administrators Ernst & Young successfully sold three of the group's subsidiaries – Eagley Trade Extrusions, PVC (Powders) and Pulse Building Plastics – as going concerns, securing about 131 jobs.
According to an E&Y spokesperson, a buyer had not been found for the Polycol business and assets were now being realised for those businesses that could not be sold. Two other companies from the group – PVC Compounds and PVC Sales– have also been wound up.
In all, the job losses across the group as a result of the Polycol business and the other two businesses being wound up total 94.
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