Redundancies after building restoration company slumps into administration

Stone Edge Midlands, a building restoration and conservation business, has gone into administration with 35 staff made redundant.

Ian McCulloch and Chris Lawton of Begbies Traynor were appointed as joint administrators of Stone Edge Midlands on 6 January 2020.

The company ceased to trade with immediate effect with the redundancies affecting employees, based across its two trading premises at Skipton and Tamworth. The job losses include 15 redundancies in Skipton and 20 in Tamworth.

The firm had specialised in completing renovation work on listed buildings and similar traditional properties.

Administrators are assessing the work in progress and contracts of the business, in conjunction with an instructed quantity surveyor, in order to establish the recovery prospects for creditors.

Joint administrator Ian McCulloch said: “Due to the specialist nature of its work and the high skill level of the employee base, Stone Edge Midlands had a significant fixed costs base and as a result was unable to recover from a reduction in trade during 2019.”