Staff made redundant at Worcester roofing and cladding contractor
Roofing, cladding and façade contractor Britannia Site Solutions has ceased trading after filing for administration, resulting in all 18 employees being made redundant.
Conrad Beighton and Joph Young from Leonard Curtis were appointed as joint administrators of the Worcester firm on the 14th September.
The company, which began trading in 2011, has been impacted by increased supplier costs, projects being put on hold and significant delays in receiving payments due from major customers which has severely affecting cash flow.
The notice of intention to appoint administrators was filed at court on 2nd September 2022 to enable an accelerated merger and acquisition process to take place but, unfortunately, a sale of the business was not possible.
Administrator Conrad Beighton said: “We were hopeful of securing a purchaser for the business, but there was no interest of any significance as most of the contracts had already been terminated by the main contractors. As a result there was little value in the residual assets of the company.”