Pneuride enters administration with around 55 jobs lost

Pneuride, set up in July 2007, made advanced electronic control systems and air suspension components for the automotive industry. It had endured a prolonged spell of soft trading, with mounting pressure on cash flow and margins.

Directors explored a solvent solution, including marketing the business for sale, but no viable offers or investment emerged. Most staff have been made redundant, with a small number kept on to assist the wind-down. Interested buyers are invited to contact Interpath.