NO BUYER has come forward to take over the business which built the roof of the Olympic Aquatic Centre with work at the site set to wind up at the end of this month.

Administrators for Newport's Rowecord Engineering have confirmed that a single buyer has bought the plant and machinery through auctioneers GoIndustry.

The identify and intentions of the buyer are not known, but it hasn't bought up the business or kept on the workforce and the company is to be liquidated in due course.

Three parties had shown an interest in the company but none had made an offer.

Workers at Rowecord are working on one final project for the British Museum but that is due to come to an end at the end of the month, according to Stephen Hall of administrators Grant Thornton.

Some 11 employees will be reduced to two or three by the end of the month, with no one working on the Newport site itself from Friday.

"All employees will be made redundant by then," he said.

Mr Hall said the buyer of the plant and machinery could have the ability to open a business at the Rowecord site "if they wanted to."

However he said they would need to make a deal with parent company Rowecord Holdings, which owns the property at the site.

But Mr Hall said they are not in any discussions with the buyer, who he didn't disclose the identity of.

Mr Hall said administrators will be involved in a long process of agreeing how much of the debt owed by the firm is collectable.

He explained that administrators cannot make a distribution for unsecured debt and that the company will be liquidated "in due course".

"I think its already the end of the company," he said.

Rowecord went into administration in April, collapsing with debts of £24 million and making 430 people redundant.

A core staff of 80 were kept on to complete contracts at the steel-fabrication company, with workers finishing with the firm as projects ended.