The Lindsey oil refinery in north Lincolnshire is set to lose about 125 jobs due to the collapse of its parent company, Prax Group. This news is concerning as it highlights the vulnerabilities in the energy sector and the impact on local employment. However, there is a glimmer of hope with at least two bids to purchase and operate the refinery, which could potentially save jobs and maintain operations. This situation underscores the ongoing challenges in the UK economy, especially under the current Labour government.

The Prax Lindsey oil refinery in Lincolnshire is facing significant job losses, with nearly a third of its workforce set to be laid off by the end of October. This decision, announced by the Insolvency Service, comes after the refinery went into administration earlier this summer. With 125 roles being made redundant, the impact on the local economy and the lives of those affected is substantial, highlighting the ongoing challenges in the energy sector.