Twenty-five staff were left jobless the day before Christmas when a Faversham firm went into liquidation.

New Form Energy founder and chief executive Anthony Morgan says he is “devastated” at the news that his renewable energy company has gone bust.

Workers at the consultancy were informed via email on Christmas Eve that they would be made redundant, and may not receive back pay that stretches as far back as October.

The company, founded in 2006 and based on the Foundry Business Park in Seager Road, had accrued debts of almost £3 million and the decision was made by directors to put the company into administration.

This was despite receiving extra funding of £410,000 from Kent Count Council’s Tiger Regional Growth Fund in October 2013.

A former employee, who asked not to be named for fear of jeopardising his future job opportunities, said: “My family live pretty much hand to mouth, month by month.

“We’re three months’ salary down and were told we’d all be caught up in a couple of weeks.

“Then on Christmas Eve I got this email saying the company’s gone bust and it’s absolutely hammered us.

“Personally, it’s causing great stress in my marriage and it’s been a very difficult Christmas, what with presents and everything.

“It’s been horrendous, really horrendous.”

Keith Willett was hired as managing director in August 2013 to help expand the company.

He left the firm in October.

Founder and chief executive of New Form, Anthony Morgan, has invested more than £250,000 in developing the company since its inception.

He said: “It’s very unfortunate. I’ve personally lost a lot of money in the process and it’s a very unnerving and unsettling time for everybody.

“I’ve put my heart and soul into this company for the last eight years and for it to come to this is awful.”

He added: “The staff have been with me through thick and thin and we really did believe in what we were doing. It’s absolutely devastating to find ourselves in this position.”