THE PROPOSED rescue bid for Ravenhead Glass was cast into doubt this week when it emerged that the potential buyer has yet to make an application for government grant assistance.
Union representatives fear hopes are now fading that the glassmaker may be rescued.
Talks between the potential buyer, Woodrow Wilson investments, and the administrator, Begbies Traynor, have been going on for over a month. It was understood that Woodrow Wilson had made a firm bid for the glassmaker and that the deal rested on them securing government funding to regenerate the site.
But talks with the administrator appear to have faltered and as a result an application for government funding has not been made.
The bid for funding was expected to be examined by the board of the North West Development Agency at a crucial meeting on Monday, August 20. But unless the problems between the administrator and the buyer are resolved quickly, the matter will not be considered.
St Helens North MP, Dave Watts, said he was disappointed at the situation but was still hopeful that the problems could be resolved.
He told the Star: "I'm disappointed that the bid for government funding has not been submitted. However, I'm still trying to encourage the bid and we will have to wait and see if this materialises.
"Talks are still ongoing between the potential buyer and the administrator. However, no formal bid for grant assistance has been made and if it doesn't materialise the deal could collapse."
Terry Mellor of the GMB union, who represents many of the former Ravenhead workers, said that it would be a 'bitter blow' if the deal collapsed : "Workers have ridden a rollercoaster over the past few months as bad news has turned to hope only to be dashed time after time.
"There has been a number of parties interested in taking over the business, but this recent one has been the most promising.
He added: "If this latest bid fails every effort will be made to find another buyer, but the customers, including many of the country's largest brewers are finding alternative suppliers, so time is of the essence."
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