Operations have ended at Moveero's Telford factory after administrators were unable to secure a sale of the business
Nearly 100 workers have been made redundant after efforts to find a buyer for wheel manufacturer Moveero failed, bringing operations at its Telford factory to an end.
Joint administrators confirmed that 98 employees have lost their jobs following the closure of the company's Hadley Castle site.
Moveero, which manufactured wheels, rims and hubs for agricultural and construction vehicles, employed around 250 people at its Telford facility when it entered administration earlier this year.
Administrators from Interpath spent several months exploring options to sell or rescue the business but concluded that a sale as a going concern was not possible.
The closure marks the end of more than 100 years of manufacturing at the Hadley Castle site.
Moveero entered administration in March alongside two related companies, Sankey Holding and Autostructures UK.
The business had been affected by a downturn in the off-highway vehicle market, increased pricing pressure and wider operational challenges.
The administrators said customers had provided financial support to enable the business to continue trading while rescue options were explored.
Moveero was previously part of engineering group GKN before being acquired by German private equity firm Aurelius in 2020.
Joint administrators Ryan Grant, Chris Pole and Sam Birchall said the level of investment required to return the business to long-term viability meant a sale could not be achieved.
Mr Grant said: "The team has been nothing short of exceptional.
"The endeavour to keep the business going and maintain outstanding product quality is testament to the staff's professionalism and commitment to customers."
The joint administrators said: "Operations related to Moveero Limited have now ceased.
"As such, and with regret, 98 members of staff based at the company's facility in Telford have been made redundant."
A small number of employees have been retained to help wind down the business and support the administration process.
The administrators added that other businesses within the wider Moveero group continue to trade profitably.
Its Hadley Castle factory has a manufacturing history dating back to 1908, when Joseph Sankey & Sons established operations at the site.
The business later became GKN Sankey in 1968 and, at its peak, employed thousands of people in Telford.
Telford & Wrekin Council said it is providing support to workers affected by the redundancies.
A council spokesman said: "Individuals looking for work can access free support, including help with CVs, interview preparation, and guidance on job opportunities across the borough."
The local authority said a range of practical support is available to residents seeking new employment following the closure of the site.