A FIRM that had been in business for 112 years has closed, making 140 workers redundant.

Frank and Whittome joiners, one of Faversham's oldest firms, went into administration on Tuesday and the jobs were lost with immediate effect.

Bosses at the company, in Abbey Street and Belvedere Road, were planning to move from the town centre site and a planning application for housing on the site had been approved by Faversham Town Council.

But last month Swale Borough Council turned down the scheme on the grounds that there would be too many houses and Faversham would be losing an employment site.

Former Mayor Cllr Cindy Davis said councillors were aware of the company’s financial problems and a decision to approve the application might have helped.

Mayor Cllr Mick Gates said he was shocked at the loss of such a well respected company.

"It’s a real shame. Now we know why they were so desperate to get that planning application through. The town council did approve the scheme."

Andrew Bowles, leader of Swale Borough Council said: "I’m very disappointed, it’s a very big loss and very sad in terms of the employment the town has lost and the company itself.

"I’m sure if the company had got planning permission, their creditors wouldn’t have foreclosed. Whether they would have relocated in Faversham or not we will never know."

BDO Stoy Hayward restructuring experts David Gilbert and Shay Bannon have been appointed as joint administrators to the company, at the request of the bank.

David Gilbert said: "Frank & Whittome Ltd has suffered financial losses due to the decline in the manufacturing industry in the UK and the lack of demand for specialist, high quality joinery.

"This has resulted in growing pressures on its financial situation and as of today, an Administration Order has come into effect. Regrettably, redundancies were required as there was no viable business to preserve and sell."