ACCOUNTANTS today said they couldn't rule out redundancies at a Burnley factory which employs 90 people after it crashed into receivership.

Diecasting firm Thomas Ashworth & Co is one of four companies in the Presbar group which has gone into receivership.

The Sycamore Avenue factory is continuing to trade and administrative receivers Malcom Shierson and Rod Weston are trying to find buyers for the businesses. But they warned redundancies were possible. "It is probable we need to re-structure the businesses to make them attractive to potential purchasers which may well involve redundancies in at least some of the locations," said Mr Shierson of accountants Grant Thornton. The receivership has been blamed on cheap foreign imports and the high value of the pound which makes exports from the UK more expensive. The other factories in the Presbar group are in Ancoats, Chadderton and Clayton in Manchester and employ 220 people.

The companies produce aluminium and zinc products and plastic injection moulding for the automotive and other industries.

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