A closure was first mooted publicly in July, but interest in the company from several parties meant that a sale rather than closure became a possibility.
However, both deals failed to materialise and TPF has reverted back to ‘plan A’ with staff from Wace being offered roles at other TPF sites.
A spokesman for TPF said: “The transfer of Wace Swindon operations to other TPF Group sites is now going ahead. Staff at Swindon are currently going through the usual HR processes, so it’s too early to say how many will take up the opportunity to relocate.
“Similarly with the plant, they are currently assessing which machines are suitable for relocation.”
Unite has said that it will be meeting with representatives of TPF on Monday (8 October ) to discuss the next course of action.
Meanwhile, according to the spokesman, TPF’s overseas expansion is set to step up a gear with the firm close to securing a stake in an as yet unnamed Japanese print company.
10 YEARS AT WACE
1997 Accountant Angus Steel is called in to turn round the plant’s fortunes
1998 Wace accelerates sales plan, offers Steel chance to buy site
1999 Steel leads MBO
2004 Falls into administration and bought by Ringdark. Steel leaves
2005 TPF buys majority stake
2007 TPF announces closure
TPF confirms Wace to cease as going concern
The final nail looks set to be hammered into Waces coffin as its parent firm TPF Group has confirmed it is to close.
