ADMINISTRATORS hope that a buyer will soon be found for a struggling manufacturing firm in Eastwood.
FRP Advisory was brought in to try to find a buyer for Beamlight Automotive Seating earlier this month.
The firm ran into financial trouble after a contractual dispute with one of its major customers left it struggling to pay its 260 staff.
As a result, 190 of them had to be suspended, while the remaining 70 stayed on to continue work for the other customers.
Co-administrator Nigel Hamilton-Smith said talks were being held with "a number of interested parties", adding that they "hope to have some news on a buyer next week".
Mr Hamilton-Smith added they hoped the majority, if not all, of the 260 staff would be saved from redundancy.
He said: "We were called in to find a buyer for the company on October 11.
"Because of the problems, the firm has had to suspend many of the staff.
"We have had some interest in buying the company. Talks over the potential sale are ongoing at the moment.
"It is our hope that we will be able to let people know more at some point next week.
"It is obviously going to be a major concern for the staff.
"It is our hope that there won't be any job losses as a result of this, but this will depend entirely on the buyer."
The firm makes frames for seats in cars and trains.
It has a number of high-profile customers, including car manufacturers Ford, Bentley and Land Rover, and train makers Bombardier.
Mr Hamilton-Smith said he was unable to confirm which customer the contract dispute was with.
Beamlight is based in Newmanleys Road, Eastwood, and has a history which dates back more than 70 years.
No one from the company was available for comment when the Post called yesterday.
Eastwood town councillor Josie Forrest said: "A lot of people in Eastwood work at Beamlight so it is a very worrying time. I live near the site and see people going to work there.
"This is a company which has a long history in the town. Hopefully a buyer can be found to take this forward and save as many jobs as possible."
Councillor Keith Longdon, who represents Eastwood on Notts County Council, was also concerned. He said: "I have heard about the problems at Beamlight. It is very concerning for Eastwood that this is happening."