HOPES of finding a buyer for collapsed manufacturer C-Tyres are "diminishing", its managing director, Gary Oliver, warned last night.

He said an ongoing dispute with the landlord of C-Tyres' premises on the Littleburn Industrial Estate, in Langley Moor, County Durham, was hindering talks with interested parties.

Bosses have been unable to gain access to the site since the landlord issued the company with a forfeiture notice more than three weeks ago. The company has since been placed into administration with the loss of 100 jobs.

"The whole sale process or process of starting a new business is being hindered by the fact we are still being denied access to the site," said Mr Oliver.

"We are very frustrated by the whole thing. I can't believe the attitude of the landlord."

The Northern Echo reported last week that Mr Oliver was in talks with at least two companies - one in the South and another in the Midlands - interested in buying the business and assets of C-Tyres.

However, talks have been unable to progress because Mr Oliver - who formed C-Tyres six years ago after buying the assets of Colway Tyres and its sister company Motorway Retreads - has been unable to gain access to the factory.

"The chances of selling the company are diminishing. The longer this goes on, the less likely it is to happen," warned Mr Oliver.

"People are trying to hold on to the goodwill that was there with the Colway brand, but the longer it is out of the market, the less goodwill there is."

C-Tyres got into difficulties last month after a dispute with the landlord of the factory over the non-payment of rent. It called in Sunderland specialists Tenon Recovery and was officially placed into administration on November 1.

Mr Oliver had originally hoped to be able to come to an agreement with the landlord and trade C-Tyres while in administration.

The Northern Echo has been unable to contact the landlord