By Marcus Leach
Thamesteel in Sheerness have announced that up to 350 employees will lose their jobs as the company goes into administration.
The Kent-based firm called in administrators and admitted most of their workforce would be laid off.
Fifty jobs are to be retained to keep the plant in working order while administrators seek a buyer.
"Production at Thamesteel's Sheerness plant ended several weeks ago and the company voluntarily entered administration," Rod Weston, of Mazars, the company appointed joint administrators, said.
"The administrators, unfortunately, had to inform the workforce that a large number of redundancies need to be made.
"However 50 jobs are being kept so as to maintain the plant in full working order while the administrators work hard to try and find a buyer for the business."
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