The good news for Daewoo employees at Worthing is that another company looks set to take over the troubled enterprise.
But the bad news is that scores more job losses may be announced before the rebuilding process can take place.
The TWR group is a global engineering company which would almost certainly be an asset to Worthing.
In the long term, this company could provide extra jobs for the area. But that's no consolation to staff who may find out today they are being made redundant.
When Daewoo came to Worthing, it was with the high hope that the giant car maker would bring economic vitality to the area.
Instead it has been a disaster and it will be a relief if TWR can make a fist of it.
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