Keating Group Ltd, the cylinder producer based on Bromfield Industrial Estate in Mold, Wales, went into administration after a bank had changed their minds about releasing vital funds to the company.

Chief executive Mike Samuel said: "We were trying to put a rescue package together, talking to the bank and trying to release the funds"

He said the company was operating at a loss, but would not give details on the figures involved, according to reports.

Ninety staff from across the region have been told they have lost their jobs and will not be getting paid for their last month's work.

The group was taken over from Mike Keating, who previously ran the company for 20 years, by new owners Mike Samuel and Paul Musto last year, with the aim of turning the company around.