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Construction News
16/02/2009
Bankers Threaten Future Of Suffolk Company Omar Homes
Omar Homes, a major company in Brandon Suffolk is facing a bleak future due to the refusal of Lloyds bank to provide credit.
The company, which employs 200 workers, builds Park homes. Construction union UCATT have been working with the company to save jobs and secure the company's future. Workers have been on short time working and 80 workers were made redundant last autumn.
The company has found a new investor and is in the process of extending its order book but Lloyds, which is now 43% owned by the Government, has refused to provide new funding while the final details of the new investment are resolved.
The bank's intransigence has forced Omar homes to close the factory until the matter is resolved.
Brian Rye, Regional Secretary of UCATT Eastern Region, said: "The bank's refusal to provide credit is a disgrace. Omar Homes is a good company trying to save as many jobs as possible during difficult economic circumstances. The company has a future if it can just survive the next few weeks. Rather than be understanding the company's needs the bankers have kicked Omar Homes and it workers in the teeth."
UCATT have contacted senior ministers to assist Omar homes and to honour their commitment to force banks, particularly those kept afloat by public money, to sensibly lend money.
(CD/JM)
The company, which employs 200 workers, builds Park homes. Construction union UCATT have been working with the company to save jobs and secure the company's future. Workers have been on short time working and 80 workers were made redundant last autumn.
The company has found a new investor and is in the process of extending its order book but Lloyds, which is now 43% owned by the Government, has refused to provide new funding while the final details of the new investment are resolved.
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The bank's intransigence has forced Omar homes to close the factory until the matter is resolved.
Brian Rye, Regional Secretary of UCATT Eastern Region, said: "The bank's refusal to provide credit is a disgrace. Omar Homes is a good company trying to save as many jobs as possible during difficult economic circumstances. The company has a future if it can just survive the next few weeks. Rather than be understanding the company's needs the bankers have kicked Omar Homes and it workers in the teeth."
UCATT have contacted senior ministers to assist Omar homes and to honour their commitment to force banks, particularly those kept afloat by public money, to sensibly lend money.
(CD/JM)
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