Will Wright and Mark Orton of KPMG have been appointed joint administrators of Discovery Foils Ltd, a supplier foil gravure printed packaging which has been forced to close as a result of cashflow difficulties.

The company, based at Bridgnorth in the West Midlands, produces packaging primarily for the confectionery industry and other customers in the dairy and foil food containers industry.

Will Wright, joint administrator and restructuring partner at KPMG, said: 'The site at Bridgnorth has now been closed and will continue to liaise with key customers. As a result, it is with great regret that we have today made 69 staff redundant. Twelve staff have been retained as we wind down the business. We have had substantial interest in the business and we are hopeful that we will be able to find a buyer who could restart the plant.'