A glazing firm has gone into administration after a downturn in sales - with the loss of more than 30 jobs.

Diamond Glass, based on Revenge Road, Chatham, was put into the hands of administrators on Friday, November 9.

The firm, which has operated since 1995, employs 33 staff. All have been made redundant.

Andrew Pear and Richard Keley of restructuring company BM Advisory have bene appointed joint administrators.

The business had suffered from a recent downturn in sales, principally due to a reduction in orders from existing customers, as well the rise in the price of raw materials as a consequence of the weakened pound, both of which had significantly impacted the company’s margins.

In October, BM Advisory was engaged to conduct a review of the financial position of the business and it was concluded that the company was insolvent.

It has therefore ceased trading and the assets are being offered for sale via the administration

An accelerated marketing campaign in respect of the company’s business and assets was conducted, but no offers were forthcoming.

Subsequently, a decision was taken by the company’s funder on November 9 to place the business into administration.

Andrew Pear comments: “As the director of Diamond Glass (Medway) Limited was unable to meet the direct costs and operational overheads of the business, it became clear that the company could not continue. It has therefore ceased trading and the assets are being offered for sale via the administration. The Administrators are also taking steps to assist in the collection of the outstanding debtors’ ledger and to realise the assets of the company for the benefit of its creditors.”