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Tascot loses hopes of survival, sacks 10 more workers
22
Oct '10
As administrators of Tascot Templeton, a carpet manufacturing firm in the north-west of Tasmania go on with winding up of the firm, 10 more workers have lost their jobs.

Continued dearth of orders caused the company to go into voluntary administration, last month. The 10 workers who lost their jobs were engaged in yarn manufacturing and dyeing process.

October 22, will be the last working day for these workers leaving the factory with around 100 employees. The administrators of Tascot said that, there is meagre possibility that they would be able to save the business.

They said that, though a prospective buyer has shown some interest in buying the business, but they are not very much optimistic. The creditors meet to be held next week probably would decide on the company's fate ahead, they added.

Fibre2fashion News Desk - India

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