A Brinscall timber firm has gone into administration putting nearly 500 jobs at risk.
A sudden and steep downturn in orders has been blamed for the problems at Palgrave Brown, Railway Road, Brinscall.
The £66 million turnover business - one of the UK’s largest manufacturers of timber engineered products - manufacturers roof trusses, staircases, doors and wooden canopies.
It has 17 offices throughout the country, employing a total of 491 staff.
Administrators BDO Stoy Hayward’s business restructuring division said the company had become a casualty of the house building downturn.
Dermot Power, partner at BDO Stoy Hayward, said: “Palgrave Brown is a casualty of the well-documented contraction of the construction and house-building industries. “This sudden and steep downturn is at the centre of the company’s current difficulties.
“Palgrave Brown is a well-established business which, through its strong and well deserved reputation, has become one of the leaders in its field in the UK.
“It has a large customer base but, unfortunately, despite the considerable efforts of management and all stakeholders, the wider economic conditions have proved too challenging.
“We’re currently in the process of conducting an immediate business review and progressing discussions with several interested parties working to secure a going concern sale of the business.”
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