§ Mr. Kilfedderasked the Secretary of State for Northern Ireland whether he can now make a further statement about keeping the factory of Welrex Ltd., Clanddoye Road, Bangor, in being and protecting the jobs of the workers.
§ Mr. OrmeThis company manufactures hosiery at factories in Bangor and Newry. The factories are interdependent; the process is begun at Bangor and completed at Newry. The Northern Ireland Department of Commerce has been providing financial support to keep both factories going for a limited period since the company went into receivership on 1st May 1975.
There has been regular consultation between the Department of Commerce, the receiver appointed by the bank, and the company management to review the company's performance and its prospects. The considerable efforts to find a buyer for the operating assets have not had any 418W success. With regret, it has been concluded that there is no chance of viability in the foreseeable future. Consequently, the receiver has decided to begin an orderly run-down of production and employment from the end of June, which will lead to complete closure in a matter of weeks.