Jobs in peril at luxury phone maker

THE jobs and pensions of nearly 180 UK workers at a luxury smartphone maker are at risk after a rescue plan failed.

Vertu, which makes jewellery-encrusted phones, has a deficit of around £128m and cannot pay staff or its bills. Last week the Mail revealed around £500,000 was allegedly missing from its pension fund. At the end of June it applied to be put into administration by its owner, Turkish tycoon Hakan Uzan, who bought the firm in March. Uzan then intended to buy Vertu back.

But at the High Court yesterday, the application was withdrawn and Vertu later said it was ‘truly saddened’ it could not save the business. It said it had no chance of financial viability. It is now likely to go into liquidation with a winding up petition lodged in Bristol on May 5 by WA Consultants over a debt of £79,834.18. However, Judge David Hodge yesterday adjourned the hearing for up to 48 hours to see if any other solution could be put forward.

Vertu’s 178 UK staff, mostly based at the manufacturing plant in Hampshire, have not been paid for June.