71 jobs lost as building products firm goes under
Some 71 jobs have been lost at a Leicestershire manufacturer and supplier of building products.
Administrators from Leonard Curtis were called in to System Building Products, based in Hinckley, yesterday (25 March). The firm traded from sites at Hinckley, Stafford, St Helens and Worcester, employing 71 staff. Its brands include Omnis and Burgess CEP.
Joint administrator Conrad Beighton said: “The business has faced considerable challenges in the external building products sector over the last three years but had continued due to its excellent market goodwill and reputation, underpinned by significant financial support from its parent company.
“The company had attempted to secure a sale of the business over the last few weeks and, despite some genuine interest, potential acquirers were deterred by the current uncertainty and, as a result, all 71 employees have been made redundant.
“Our focus now is to ensure that those affected employees are provided with all assistance necessary to enable them to claim for their entitlements as quickly as possible at this difficult time.”
The firm’s latest available accounts for the year ending 31 December 2018 seemingly showed a company on the up, with turnover tripling to over £30m and profits standing at £6.3m after a restructuring of the firm which saw several divisions offloaded. “Significant” overseas orders were expected in 2019.