Fears for 150 jobs at office firm

It is hoped buyers will come forward for the company

An office stationery company employing more than 150 people in mid Wales has gone into administration.

Setten and Durward, which makes office filing products, is one of the biggest employers in Llandrindod Wells, Powys, say local politicians.

Brecon and Radnorshire AM Kirsty Williams said she was "disappointed and worried by this devastating news".

A spokesman for the firm said he was hopeful it could be sold as a going concern as it had healthy orders.

In meantime it will continue to trade while a search goes on for a buyer.

The Liberal Democrat AM said: "This is a very important employer in the area and I am urging all involved parties to do all they can to support the factory and its workers."

Setten and Durward has a comprehensive manufacturing facility, a good product range and reputable and well-known brands Rob Lewis, administrators PricewaterhouseCoopers

She has asked to meet Economy and Transport Minister Ieuan Wyn Jones "to discuss the important role the assembly government has in finding a buyer for the company".

She said she and local Lib Dem MP Roger Williams also wanted to meet management and union officials to show support and offer help.

"Over the last few months I have been working to assist the company with its growing financial difficulties and had hoped the difficulties could be resolved more favourably and with this news I will continue to work to keep the factory and its jobs in Llandrindod," she said.

'Successful product'

The MP said he hoped the company's "record of producing a strong successful product will encourage buyers to come forward".

The company specialises in manufacturing office products such as ringbinders, lever arch files and boxfiles to stationery suppliers and wholesalers as well as the retail industry at its plant on the Waterloo Road Industrial Estate.

Rob Lewis of administrators PricewaterhouseCoopers said: "Setten and Durward has a comprehensive manufacturing facility, a good product range and reputable and well-known brands such as IXL, Bulldog and Premier Grip.

"We are hopeful that these qualities will attract potential purchasers."

Mr Lewis said the administrators will allow the firm to carry on trading while they sought a buyer to deliver a "going concern" solution.

"During this period we will be communicating with the company's customers, suppliers and employees and would ask for their support whilst we seek a future for the business that protects employment for 150 people," he said.