The administrators at Covpress Assembly have made 85 workers redundant, as the administration enters its third month.
Deloitte has been running the Coventry-based car parts group since April, in the hope of finding a buyer for the whole business. There were 350 employees in April.
A spokesman for Deloitte said: “Unfortunately, despite contacting over 30 potential buyers, none are interested in progressing a going-concern sale for the whole business.
“While we will continue to seek interest in the remaining business, it is currently anticipated that there will be 85 redundancies, 30 of which are likely to be voluntary.”
Covpress Assembly (
www.uyt.ltd.uk) was known as UYT until it was bought in June 2015 by the Yongtai Group, which already owned metal pressings company Covpress and decided to link the businesses by name.
Covpress went into administration last September and was bought by Liberty Group four months later, saving 740 jobs; it was rebranded as Liberty Pressing Solutions.
Covpress Assembly went into administration shortly afterwards, with Deloitte’s Matt Cowlishaw and Dominic Wong appointed as joint administrators.