More than 130 jobs have been lost after a Sunderland-based manufacturer of conveyor systems collapsed.
SE-TEK was set up only last year following the management buyout of Komatsu Mining’s UK and was said to be growing fast with "substantial" new business wins. Now, administrators from FRP's Newcastle office have been appointed to the Sunderland Enterprise Park-based business after equity investors pulled out leaving a funding hole.
FRP said new investors were immediately approached and an accelerated sale process was undertaken. But while interest was shown, there were no offers for the business and without the prospect of fresh investment, the firm entered administration with most of its 135 staff made redundant.
