LEADERS in the nuclear industry have reacted to the news that a major player in the Cumbrian sectore has entered administration.

JFN Ltd, a Barrow based nuclear decommissioning services firm that was sold for just £3 earlier this year has now officially entered administration. 

JFN Ltd was bought by private equity firm Rcapital in March, from the Barrow-based James Fisher & Sons.

However, administrators FTI Consulting have now said the company has 'insufficient cash resources to continue to trade beyond the short term' and the directors have concluded that there is 'no longer any reasonable prospect of a sale.'

The firm, which has a base in Egremont, added that it is 'hopeful' of being able to conclude a deal with the firm's instrumentation division 'within the coming days.'

The nuclear decomissioning authority, an executive non-departmental public body charged by government to run the industry has said they are looking to 'provide support' to the organistation.

An NDA spokesman said: "We are aware that JFN has become insolvent, and administrators have been appointed.

"We have been working alongside the organisation to provide support within the constraints of our contractual and legal obligations, whilst ensuring we continue to maintain our responsibility to protect taxpayers’ money. 

"Our focus remains on the safe delivery of our decommissioning mission and projects across our estate that are affected by this decision. There is no impact to the safe, ongoing operations at our sites."

Sellafield Ltd have also offered support to employees of JFN Ltd. who have been affected by the news.

In a statement on social media, Sellafield Ltd said: "A message for the people impacted by the closure of James Fisher Nuclear Ltd …

"We’ll be holding a drop in session this Monday where representatives from around the business including our recruitment team will be available to speak to individuals about opportunities available at Sellafield."

The company will be holding the session for JFN Ltd. employees on Monday, August 14 between 1pm- 3:30pm at Unit 6, Leconfield Industrial Estate, Cleator Moor, CA25 5QB

To gain access to the building attendee's will need to bring photo ID