Tue, 02 Apr 2019 | ADMINISTRATION
An engineering contractor from West Yorkshire has been forced to cease its trading operations and appoint administrators as a result of a string of financial difficulties.
Ambitemp (M&E) Limited entered administration on 22 March 2019 and called in financial advisory firm KPMG to handle the restructuring process, with partners Howard Smith and James Lumb appointed as joint administrators.
Providing mechanical and electrical engineering services, the company based in Huddersfield operated in all sectors in the building and construction industry, including in commercial, residential, official and government.
The company offered a range of services, including design, management, technical advice, cost planning and maintenance. Amongst some of their installations are fire protection and fire fighting systems, heating, mechanical ventilations, vibration and acoustic control and water treatment and filtration services.
However, due to insufficient working capital and the financial inability to sustain contracts, the business was forced to halt its operations and enter administration.
Smith, also an associate partner at KPMG, said: "The company experienced significant cash flow difficulties following the recent loss of a major contract.
"The company's financial performance was further exacerbated by a number of unprofitable contracts, which left the directors with little choice but to place the company into administration.
"We [the administrators] are on site to support the impacted staff."
The administrators are exploring options to ensure the future of Ambitemp (M&E) Limited, and are inviting all offers of interest from potential buyers immediately.
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