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A BUSINESS that has remained a fixture in its road for decades is due to close with the loss of all its jobs.

BPI Packaging Services, in Brook Road, Buckhurst Hill, will soon be shut down owing to rising costs and falling profits, with all 45 staff due to be made redundant or transferred to other offices.

The business, which manufactures polythene products, was bought by BPI in 1991, but the company has said the increasing cost of raw materials has left it unviable.

In a statement, the company said: "We do have concerns over the projected increase in the costs of electricity and gas for the summer months, when we usually benefit from a seasonal reduction.

"We have commenced consultation with employees at our site at Buckhurst Hill, regarding the future of that operation. It is our current intention to close this small unprofitable site and move the business to two other sites in Flint and Cowdenbeath."

Chief executive John Langlands admitted the move marked "a sad day" for Buckhurst Hill.

He told the Guardian: "It's obviously difficult for us and the people who have been working there. We have been making polythene products on that site for a long time but the high costs make it difficult. Unfortunately that site has been making a loss.

"The whole price of oil and the high cost of raw material has made it very difficult for business. We have also had reduced volumes and this site forms part of a network of three sites. We don't have enough business now to support three sites."

He added: "It's likely there will be a loss of 45 jobs. We will interview as many of these people as we can. We have another site in Kent for people who want to go there."

2:09pm Friday 9th May 2008

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