Job losses as SIAS calls in administrators

A MECHANICAL and electrical contracting and maintenance business has gone into administration with the loss of 136 jobs.

Adrian Berry, Ian Brown and Neil Matthews of Deloitte have been appointed joint administrators of Keighley-based SIAS Building Services and SIAS Holdings.

The £35m turnover business employs 178 staff across six locations.

Its parent company, SIAS Holdings Limited, is a non-trading holding company. 

Mr Matthews said: “SIAS experienced rapid growth recently and incurred losses from a number of contract problems which, combined with a high level of overheads, has impacted on cash flow and has caused breaches in its banking facilities. 

“SIAS had also received a number of winding up petitions. As a result, the directors had little alternative but to place SIAS and SIAS Holdings Limited into Administration.

“It is the joint administrators’ intentions to secure a buyer for the £4m turnover maintenance business which currently has approximately 30 employees. 

“Discussions are in progress with clients and main contractors on the contracting side of the business to see if there is any prospect of assigning or novating any of the ongoing contracts.”