Electrolux TR1241B Freezer not working

I have an Electrolux TR1241B fridge freezer from the 80s which has been working well for many years. Recently, a buzzing noise could be heard from the freezer unit which temporarily stopped when the main power switch was reset. The freezer has now suddenly stopped working and does not emit any cold. The red light is slowly flashing on and off. When attempting to turn on the fast freezing switch this does not appear to do anything. There may have been a few instances where the fast freeze switch was left on for longer than the recommended 24 hours and I am wondering whether this may have caused the motor to break down. Any suggestions would be greatly appreciated.