Jobs lost as King’s Lynn firm ceases trading

Posted 16/08/2012

King’s Lynn construction company Knights Warner has ceased trading, with 50 jobs lost as a result of the closure of the company.Directors of the firm released a statement blaming the UK’s economic downturn for the failure of the organisation, reports the Eastern Daily Press.It is thought the company will be placed into creditors’ voluntary liquidation on September 4th and all members of staff who worked in the Lowestoft and King’s Lynn sites will face redundancy.”The company is another victim of the effects of the economic downturn that has had a drastic effect on the construction industry,” said the firm’s statement.It was added that work that is ongoing by the firm will not be completed as a result of the failure of the business.Directors of the organisation – which was formed almost 60 years ago – went on to thank members of staff for their hard work in keeping the firm afloat.