A total of 125 jobs are to be made redundant after administrators were appointed at one of Britain’s few remaining oil refineries.

The losses come despite attempts to find a buyer for the business following the collapse of its parent company, energy conglomerate Prax Group, which triggered the administration process at the Lincolnshire site.

A further 255 employees will remain at the site.

“We understand that this a very difficult time for all those affected by this decision, and the Insolvency Service will fully support employees subject to redundancy via the redundancy payments service,” the government-run Insolvency Service said.

“The site remains safe, and the official receiver continues to prioritise health and safety at the site alongside the ongoing process to secure the sale of the refinery.

“The conduct of the company and its directors, following the liquidation of Prax Oil Refinery, remains the subject of an ongoing Insolvency Service investigation.”

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