Nearly half the workers at an historic bell foundry have been made redundant after the business was hit by a cash crisis.

Yesterday, 13 of the 28 staff members at Taylor's, Eayre and Smith Ltd in Loughborough lost their jobs – just days after the 225 year-old firm went into administration.

Administrators Mazars took over the company, in Freehold Street, and are keeping on the remaining employees to finish existing orders on the books.

They are, however, cutting costs while they search for a new owner to take it over.

Taylor's is the world's biggest bell maker and has been trading in Loughborough since 1839.

Administrator Simon Chandler said: "Very sadly, we have had to take the decision to make 13 staff redundant.

"We have retained 15 of the original 28 employees to complete work in progress. We do, however, remain very hopeful of selling the business as a going concern and are currently in talks with nine interested parties."

He declined to say who the potential buyers were or how much they would need to raise to take over the foundry.

Jill Clarke, the bell foundry's operations director, described the redundancies as "heartbreaking".

She said: "Some of the people who have lost their jobs have worked here man and boy. It is terrible.

"We are still trading to honour the orders we have with the remaining staff and working very hard to show that this is still a busy company.

"Our problems have been caused by the fact that we had to get a new roof, to the tune of £70,000, late last year. We would like to have put it off but the Health and Safety Executive told us we had to do it.

"Then, in summer, our orders always go down because parochial church councils do not meet.

"The roof repairs came at just the wrong time." Mrs Clarke said the firm had received many pledges of support since it went into administration on Friday.

She said: "Our customers have been in touch saying they still want us to complete their orders, and our suppliers have been surprisingly supportive.

"We've been astounded by it all.

"But it's all still very sad for the people who have lost their jobs.

"Hopefully if a buyer is found they may be re-employed because they have all the skills."

Bob Bailey, secretary of the Hastings Community Association, in Loughborough, said he believed residents would do everything possible to try to save the foundry.

He said: "It's an iconic business for the town, the county and, indeed, the world.

"It would be an absolute tragedy if it were to shut because people here do feel a lot of pride to have it on their doorstep.

"We have even considered setting up a public subscription so local people could buy it and keep it running, but we don't know how much we would need to raise."