The Angel of the North was erected in 1998

Hartlepool Steel Fabrications made the statue, sited off the A1 near Gateshead, to the design of the artist Antony Gormley.

There are hopes of finding a new buyer to save the remaining 55 jobs at the Teesside plant.

Derek Simpson, general secretary of the union Amicus, said the statue would now become a monument to the "wilful destruction" of British manufacturing.

Industrial areas like the North-East have been hardest hit by the loss of quality, well paid, full-time jobs Derek Simpson, Amicus

He said: "It is symbolic that the company that built the Angel Of The North has succumbed to the haemorrhaging of manufacturing jobs.

"Industrial areas like the North East have been hardest hit by the loss of quality, well paid, full-time jobs.

"We need stronger employment laws and investment in skills and new technology if we are to staunch the flow of good jobs from areas like the North of England."

Gareth Roberts, who was appointed administrator, said: "I regret that following completion of a large loss making contract it has been necessary for the company to appoint administrators.

"I have informed the employees that the company must make 38 redundancies immediately, but we intend to trade the business on and are confident that we will find a buyer to save the remaining 55 jobs."