Administrators at Crane Freuhauf cut 345 jobs

The BBC says that Norfolk, England-based trailer firm Crane Fruehauf has gone into administration with the loss of 345 jobs, according to CV News Brief.

Staff company were told on Monday there was not enough money to pay next month's wages, following big trading losses and earlier job cuts. Efforts to save the company or find a buyer failed.

A skeleton staff of 25 will stay to work with the administrators, PricewaterhouseCoopers, who say they hope to find a buyer for the business, albeit in a reduced form.