Nearly 280 jobs will go after the owners of Manchester drug development firm Concept Life Sciences decided to close four of its sites.
Staff have been told to not go back into work on Monday as the sites are at risk of shutting down including the Manchester head office.
The news comes only 18 months after the business was sold by private equity firm Equistone Partners to London Stock Exchange-listed productivity-enhancing instrumentation and controls company, Spectris.
Staff were called to an ‘emergency meeting’ in June where they were told by Spectris that at least 200 jobs in Manchester (HQ), East Kilbride, & Braintree sites were at ‘immediate risk’ and the new owners were starting a 45-day consultation period.
However, a month later the number of jobs at risk was revised and increased to 280 as staff at the Chapel-en-le-Frith site were also placed at risk.
In an email to Business Live, one staff member said all Manchester employees have been asked to return their keys today.
They said: "Staff have not been given any explanation of why the closure has occurred, except ‘business slowdown’, with the head of HR, calling it a ‘Perfect Storm’ and unlucky at the final staff consultation meeting. She was met with anger that staff has been given zero indication of loss making, let alone imminent closure.”
Concept Life Sciences provides integrated drug discovery, development, analytical testing and environmental consulting services to an international customer base mainly in the pharmaceutical, biotechnology, agrochemical and environmental sectors.
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When Spectris acquired CLS in January 2018, boss and CEO John O’Higgins said at the time: “Concept Life Sciences is a high-quality services business, which further strengthens our portfolio and enhances our ability to provide customers within the pharmaceutical, life sciences and advanced materials sectors with a combined product and service proposition.”
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While Michael Fort, executive chairman at Concept Life Sciences, said: “Equistone has done a fantastic job in helping us to grow the business and execute our buy-and-build strategy. It has been an exciting journey and we have successfully strengthened our capabilities across the agrochemical, environmental and life sciences sectors, as well as entering new markets in Europe and the US. This puts us in a strong position for future growth and we are delighted to become part of the wider Spectris business.”
Spectris has been approached for a comment.