A BARNOLDSWICK company has gone into administration resulting in 65 redundancies.

Administrators have been appointed by the court to take over print communications company cp3I Ltd - formerly known as Carrprint - on Calf Hall Road.

Administrators from Manchester-based firm Deloitte and Touche LLP took over last Thursday when staff were called to a meeting and informed of the company's current position.

The following day, 65 staff received a letter officially informing them they had been made redundant with immediate effect.

The Herald reported the expected redundancies last month after the company said it needed to go through a restructuring exercise following a huge drop in sales.

When the administrators took over, 165 staff were employed at the print firm. Now that number stands at 100.

It is now the job of the administrators to find a new buyer for the business.

Bill Dawson, joint administrator for Deloitte and Touche LLP, said: "We have managed a very positive discussion with customers and suppliers and there have been expressions of interest from several people who are looking at information with a view to buying it.

He said it was impossible to say when a buyer would be found, but added that it could happen in several weeks.

He said: "There is no set deadline. As we speak, the business is trading on and we are hopeful we will find a buyer."