Belgian tableware glassmaker Durobor is to shut down its furnace unless an investor is found.
The company went into receivership at the beginning of May. Three potential buyers of the glassware company - from Europe, Israel and the Middle East- came forward after a subsequent appeal for investment.
But Sogepa, the financial arm of the Walloon region in which Durobor is based, announced that two potential buyers of the factory had withdrawn and that it would now proceed to a shutdown of the oven.
Durobor is based in Soignies, near Mons, Belgium and employed 144 people.
Sogepa had decided to temporarily maintain the furnace in working order after the bankruptcy announcement was made in May.
A team of about 20 staff were still working under temporary contracts. But the costs associated with it are such (the unions have mentioned €10,000 day) means the situation is only temporary.
A Sogepa spokeswoman said the furnace will be shut down in a procedure which will leave an option to restart the oven.
This approach does not mark the end of the search for a buyer candidate, she insisted.