Lloyds Bank

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The Company operates on two sites in Merthyr Tydfil county borough

A furniture company bankrupt, with 252 job losses in accordance with the message, "a catastrophic collapse of the orders".

Triumph furniture of Merthyr Tydfil , the vertices in The Town and Dowlais, has delivered More Than 600 furniture-seller, as well as one of the main suppliers to the Central government.

The Company went into administration on Tuesday , after an "unprecedented drop in sales" over The Last 10 weeks.

administrators said 239 jobs to go to immediately.

will help keep The rest of the 13 in the short-term administrators.

It was founded in 1946 as a family company, with chief executive Andrew Jackson his record, describes the gear as fast.

He said: "The Family is devastated by this terrible result and we are very concerned about the welfare of all Triumph employees and their families in this terrible time.

"The Business has suffered a rapid and catastrophic collapse of the orders since The Middle of July, what was possible, to recover from, despite all the efforts. "

He said, the Triumph of incredible loyalty and support enjoyed from the people of Merthyr Tydfil and the surrounding valleys, which is a "Central element" in its success and longevity.

"All In connection with The Business activity in those years, very proud of what was achieved," he added.

It was a management buy-out in 2011 after The Company ran into difficulties, As staff were told the news?

A contractor said staff thought the writing was on The Wall that The Company was not, however, expect, to fold this side of Christmas .

"A driver told me that in The Last few months The Work goes down," he said.

"He had driven to Aberdeen for only two chairs. If you do, you know, The Business is in trouble "

employees met in the load ramp at the main Abercanaid location at about 12:00 on Tuesday - the only area large enough to hold all of them in The Dry .

"It was heartbreaking to see, to walk, to slow, was told they had lost their jobs," The Contractor added.

"Most of the staff left immediately.

"I have said, there are only three employees are to remain in the be-to remove bay area the rest of the warehouse and around the show auctioneers. "

A worker leave The Site said he was gutted and"", and added: "The Work has eased off, but I had not expected to close it. "

He said: "in the Morning, Wake up, try to look for a job.

"Try to give my best. I have four kids, a mortgage, to get money.

"Somewhere for Christmas . "

Most of The Employees are leaving so that site after hearing the news, have something to say to administrators?

Administrator Huw Powell, the that was Begbie's Traynor, said the attempts were made to secure key clients to secure and additional funding to support a restructuring or sale of The Company .

But he added: "Due to the speed, the order in which the levels of reduced, these efforts, ultimately unsuccessful, before the funding ran out. "

administrators are helping together with the staff, you have access to the support.

Lord Powell said: "It is particularly sad to see such a prominent business to fail when it is involved in so many redundancies.

"this is devastating news for the affected. "

analysis by Brian Meechan, BBC Wales business correspondent

Triumph last accounts filed up to June 2018. You will show a loss of £343,000 for the year, compared to a profit of £66,000 for the previous year.

The Company 's cost of debt for the financial situation to delays in new government contracts, the impact on revenue and profit, lost in the public sector, with a turnover of £401,000 in profit and a 2% increase in the mean.

The accounts pointed to ongoing uncertainty about Brexit, however, she said that the orders and profitability meant The Company is in a strong position.

The accounts also warned that the decline in the value of the pound increased, the cost of raw materials and wages have increased.

Currently, The Company has five outstanding cost-effective mortgages - Most of them with Lloyds Bank .

is How the staff helped?

the Leader of Merthyr Tydfil county council Kevin O'neill said: "the closure of The Triumph furniture is very sad, not only for The Employer and the employee, but for the whole community. "

He said that Council officials were in cooperation with local employers, and the host Recruiting day on Thursday.

economy Minister, Ken Skates , said: "This is devastating news and my thoughts are with the staff of Triumph, and their families at this very difficult time.

"Our focus is now on the support of the staff, and the search for Alternative local employment. "

A Department for work and pensions spokesman assured staff that the Jobcentre Plus " Rapid Response Service, in cooperation with the Welsh Government , Careers Wales and local employers to "on demand".

Previous issues

The Company previously ran into difficulties in 2011, The Company management team.

at the time, said Mr. Jackson, the Triumph furniture is required to "ensure that we are doing The Right assortment at The Right price For Today 's business; and the opportunity to do what we have always done well: offer the trade new ideas to strengthen The Work of all our dealers in difficult times".

dowlais, merthyr tydfil, wales business

Source of news: bbc.com