More redundancies are likely at an Island firm which has gone into administration.

HBC Engineering Solutions which is based in Power Station Road, Halfway, was placed into administrative receivership this week.

HBC specialises in plastic injection moulding and metal components.

A spokesman for the receivers, Grant Thornton UK LLP, said redundancies would have to be made but it hopes to continue to operate the business on a reduced basis.

Options to sell the business as a going concern will be looked at.

In September, the Times Guardian reported how the firm was being forced to cut between 50 and 60 jobs within the next three months.

But the company has recently experienced a further decline in turnover which, together with cost pressures, has caused severe financial problems.