Pneuride specialised in advanced electronic control systems and air suspension components for the automotive industry, and employed 55 staff.
The company, established in July 2007, has faced significant financial challenges in recent months, enduring a sustained period of soft trading and mounting pressure on cash flow and profit margins.
Pneuride closes after entering administration with 55 jobs lost
As a result of these financial challenges, Pneuride ceased trading in early September after nearly 20 years in business.
Richard Harrison and Chris Pole of Interpath were then appointed joint administrators on September 30.
Mr Harrison, managing director at Interpath and joint administrator, said: “The…