"We are still seeking a buyer for the business, however, given the response to date, it is unlikely that a sale as a going concern will be achieved," said joint administrators Eddie Kerr and Ian Gould of PKF.

If no buyer was found, Kerr said, the equipment at the Midlands site would be auctioned off, but he couldn't comment on plans for the site itself, which was sold in April to the Group's Directors Pension Scheme for 2.44m.

The initial plan was that after the sale, Cradley would enter into a 12-year lease, initially paying 310,000 rent per year.

"We are unable to comment with regards to the site itself as it is not an asset of the company," Kerr said.

Kerr said that a further nine redundancies were made last Friday, adding to the 200-plus jobs lost due to the plant's closure.