30 workers axed at failed construction company
UP to 30 jobs have been lost at Bury construction company Thomas Barnes & Sons after cashflow problems forced it into insolvency.
Lila Thomas and David Acland at Begbies Traynor were appointed joint administrators of the £14m turnover firm, which has worked on public sector projects for local councils, health authorities, hospitals and schools on November 13.
In a statement Begbies Traynor said: “The company has experienced a number of disputes on contracts which led to financial difficulties and has resulted in severe pressure on cashflow.
“Following a financial review, the directors were left with no viable options for the ongoing business and reluctantly placed the company into administration.
“Following their appointment as joint administrators, and after an immediate review of the business’ current work in progress, the joint administrators concluded that the company could not continue to trade.
“The joint administrators are concentrating on realising as much as possible from the contracts in the best interests of all creditors, as well as assisting the 30 staff who have lost their jobs with their claims to the Redundancy Payments Service.”
In June, the constructor was told to quit the Blackburn Bus Station development site after Blackburn with Darwen Council’s terminated its £4.5m contract, citing dissatisfaction with the progress of work on its Cathedral Quarter regeneration project.
