More than 40 jobs have been lost at a historic Black Country recycling company after it fell into administration.
Mark Orton and Will Wright from KPMG have been appointed as joint administrators of Willenhall-based WH Marren which is a scrap metal recycling and waste management company.
The company, which was founded in 1906 and employed 52 staff, had experienced cash flow issues, according to KPMG.
Administrators said this was due to significant liabilities with HM Revenue and Customs which arose as a result of an investigation into financial irregularities in the supply chains in which WH Marren traded.
The company subsequently ceased trading before the appointment of KPMG as administrator.
Forty-five staff have now been made redundant with a small team retained to assist administrators with winding down the business.
Mr Orton said: "Following what we understand to be extensive efforts by the directors to challenge the HMRC claim, the company has recently experienced significant cash flow pressures and was therefore unable to continue to trade and the directors took the difficult decision to place it into administration.
"We will commence an orderly wind down of the business and also be speaking to interested parties with a view to trying to secure a sale of the assets.
"We would encourage anybody who may be interested in acquiring either the property, stock or assets to contact the joint administrators as soon as possible."