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Wednesday
Jul262017

Stop Press! - A & G Price in Liquidation

The long rumoured denouement has taken place within the last few hours, and 100 staff could be out the door without any guarantee of any recompense of money owing.

Today's meeting was told that attempts are still being made to sell the business as a going concern - not a likely event given the age and condition of a great deal of the infra-structure. The real asset is the skill and dedication of the workers, and A & G's specialist casting ability which is unsurpassed in this country.

This is huge body-blow for Thames, and the announcement is coming through as I put this up without great detail at this stage.

What I can say is that I drove past A & G at 7 pm last evening, and there were at least a dozen cars parked outside as one normally sees when there is an overtime shift being worked. The building lighting was normal so I guess one has to imagine that a job was being completed prior to today's announcement.

A & G is the biggest employer in Thames, a town which is already struggling, and it is about to get worse.

My heart and sympathy goes out to the men and women affected, and their families. This must be devastating news, even if presaged by debilitating rumour going back over several years.

 

 

 

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Reader Comments (1)

The long lead time does not make the news any easier to accept.
I guess our insatiable appetite for cheap imported goods and reduced manufacturing costs made this announcement inevitable.
Maybe this is a downside of forging closer economic ties with China and developing partnerships with those economies that have a different take on 'a living wage'.
The absence of this major employer further reduces the opportunity for our young people to have a chance of training and trade related employment in our beautiful town. The balance of the age demographic swings further toward aged.
Given the likely deconstruction and decontamination costs, we can only hope a buyer for the works - as a going concern - is found.
Slim chance?

July 26, 2017 | Unregistered CommenterRussell

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