Troubled high-tech firm BGM Cryogenic Engineering has been put for sale after going into administration.

A total of 39 workers at the Witney firm were made redundant last week after being told to pick up their tools and leave.

Dawn Chapman, a spokesman for administrators BDO Stoy Hayward, said: "The position is that the company has ceased to trade.

"We are considering offers for the business and once we have a result we will report back to the auditors."

Workers are still owed a month's wages but Ms Chapman added that the Government will compensate them up to the value of £290 a week.

Those earning more than that will become creditors of the company.

BGM made specialist equipmen used in the production of superconducting magnets for magnetic resonance imaging (MRI) scanners used in hospitals, and other magnetic equipment used by scientists.

Key customers included Oxford Instruments, which recently closed its plant at Eynsham, and Siemens Magnet Technology, also based in Eynsham.

The company was started by Michael Sparks in 1984 and moved its 20,000sq ft purpose-built Witney site in 2000.

Mr Sparks, who is understood to have retired, was replaced as managing director by Brenda Cawthorne, the former finance director, last year.