BBCAn oil refinery is to shut after the government said it was unable to find a buyer for it.
The Official Receiver took over the Lindsey Oil Refinery in North East Lincolnshire last month after its owner Prax went into administration, putting 420 jobs at risk.
Energy Minister Michael Shanks said “no credible offers have been made to purchase the entire refinery and it will be winding down operations”.
Prax Group, which is led by chairman and chief executive Sanjeev Kumar Soosaipillai, purchased the refinery from French company Total in 2021.
In a statement, Shanks said: “We are deeply disappointed with the untenable position in which the owners left Prax Lindsey Oil Refinery.
“Our sympathies are with the workers, their families and the local community.
“While we continue to strongly encourage the owners to do the decent thing and publicly commit to making a voluntary financial contribution to support workers, all those directly employed at the refinery are guaranteed jobs over the coming months.
“The government will immediately fund a comprehensive Training Guarantee for these refinery workers to ensure they have the skills they need and are supported to find jobs in the growing clean energy workforce.”
He added that the Official Receiver “continues to pursue interest in individual assets”.
The Unite union previously said the closure of the Immingham refinery could affect up to 1,000 jobs when taking into account contractors and the supply chain.
The Department for Energy Security said the Prax Group’s financial reports indicated the plant had recorded losses of about £75m between the takeover in 2021 and February 2024.
Lindsey is the smallest of the UK’s oil refineries, according to the government.
It is located next to the larger Phillips 66 Humber refinery, which continues to operate.
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