Workers say they were told there was no money to pay their wages
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Shocked workers discovered they had lost their jobs after reporting for work to find their foundry locked up.
Crane and Cast Ltd of Wolverhampton handed dismissal notices to around 45 employees through locked gates when they turned up on Wednesday morning.
Workers claim they were also told that they will not receive wages.
The Transport and General Workers Union (TGWU) condemned the firm for the way it had apparently failed to keep staff informed of the closure.
A source at the company confirmed to BBC News that Crane and Cast went out of business on Monday.
Tony Clews from the TGWU said: "In 14 years of representing people I've never known people to be treated as shambolically.
"A lot of the workers are first generation Asians who came to this country in the late 50s and early 60s and there was plenty of foundry work then.
"You would think the commitment they've given over all those years, the company would have called them in, consulted them, explained what's happened and the reasons for it, helped fill the necessary forms in.
"They promised to make a statement to let them know what's going on, failed to do that and instead they've decided to put it in one of the local papers."