Lincolnshire building firm falls down

A Lincolnshire-based construction firm has entered administration after a contract it won finacially cripped the firm.

Trent Build has called in Adrian Allen and Keith Marshall of RSM Restructuring Advisory as joint administrators.

The administrators say the company, which was established in 2003 and is based in South Hykeham near Lincoln, had been suffering from cash flow difficulties as a result of a large loss on a contract.

Trent Build has a workforce of 12 employees who are helping administrators in winding down the company.

There have been three immediate redundancies and administrators say that the remaining staff will be made redundant by the end of March.

In its last filed accounts Trent Build had fixed assets of £40,195, and was owed £811,764. It had £911,414 banked, but owed £971,892.