Jenks Sales Brokers entire workforce has been made redundant after it went into administration on Monday.
Karen Dukes and Colin Haig of PriceWaterhouseCoopers have been appointed as joint administrators. A spokeswoman for PwC said: “There is no prospect of a sale or of continuity. It will be a wind-down.”
She said Jenks had been hit by pressures caused by the recession with companies it supplied buying less and, as it imported a large amount of stock, it had suffered because of foreign exchange fluctuations.
The company is also reported to have experienced teething problems at its new 320,000sq ft warehouse and head office in Milton Keynes, which opened fully in January and was designed to handle 50 million cases a year.