REDDITCH-based interiors firm AMS has collapsed, with administrators making 44 people redundant.
The news follows the announcement on January 6 that the company was going into administration and a further 101 jobs remain at risk at the Redditch-headquartered business, based in Oxleasow Road.
KPMG partner Mark Orton, who was appointed joint administrator of AMS Retail Interiors alongside Will Wright, said: “The company continues to trade in the short term whilst it seeks support from its customers to fulfil outstanding orders and the administrators market it for sale.”
Administrators said that they had been instructed due to “significant challenges” in the retail sector including “increasing competition” and “pricing pressures” and so far 44 redundancies have been confirmed.
Mr Orton added: “The company has faced significant challenges in recent times, through increasing competition, pricing pressures and general difficulties within the retail sector.
“Despite management’s best efforts to improve the performance of the business, the directors were unable to find a way forward and took the difficult decision to place the company into administration.”
Its 2015 accounts were overdue, but in 2014 it made a pre-tax profit of £1.31m on sales of £38.8m.
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