Metalrax administrators save nearly 390 jobs In total 387 jobs were saved. KPMG were appointed after the specialist engineer warned earlier today that its working capital had "significantly" worsened and attempts to refinance the group had failed. The company employed around 469 staff, according to its 2011 Report and Accounts. Mr Wright said: "The group has experienced difficult trading conditions for some time, primarily within their consumer durables division. While the group's management team has divested in recent years to focus upon niche areas, trading in this division has led to a significant drain on the group's financial situation. Metalrax's Consumer Durables division has struggled since the loss of a major contract in July last year and the business has traded "materially below expectations." KPMG had been assisting the board with a review of its strategic options, including the sale of companies or assets. This morning Metalrax asked for trading in its shares to be suspended on AIM, pending clarification of its financial position.