More than 230 jobs have been after a Kidderminster luxury boat and yacht-maker collapsed into administration.
A total of 234 employees at Sealine International have been handed redundancy notices after administrators from Baker Tilly Restructuring and Recovery were appointed.
The administrator said it was assisting the affected staff to make claims against the government redundancy fund.
It is understood about 70 more jobs are hanging in the balance.
Graham Bushby and Guy Mander of Baker Tilly Restructuring and Recovery were called into Sealine International earlier this week.
Bushby said the administrators would be working to "maximise recoveries for the company’s creditors", which includes the sale of plant and recovery of monies owed to the business.
Sealine made a £4 million pre-tax loss on a turnover of about £33 million according to its latest accounts, for 2011, and has been loss-making for a number of years.