Wed, 18 May 2011 | ADMINISTRATION
Lincolnshire building materials supplier, C&G Concrete Limited, has been placed into administration by its directors after sales were hit during the winter months.
Sales fell during the harsh winter as laying down concrete is impossible to accomplish in severe weather conditions, the firm said.
Administrators from PricewaterhouseCoopers have come in to manage the affairs of the troubled business, which makes ready-mixed concrete, mortar and aggregates for the construction sector. Its workforce of 120, most of which man its factories, face losing their jobs.
Established for over 50 years, C&G runs three quarries and several plants across Lincolnshire, Humberside and Peterborough.
Potential buyers have already made their interest in the company known, according to joint administrator Eddie Williams.
“C&G is a well-known business within its local markets with a strong reputation for quality and service, which was making significant progress in terms of its performance,” Mr Williams said.
“There have already been a number of serious expressions of interest in the business and our main priority now will be to quickly progress these interested parties, plus other potential acquirers, to a completion of a sale of the business.”
Sales at the firm for the year ending December 31, 2009 were £11.97 million, a sharp decline from the £16.29 million reported the previous year.
This construction services business in the Home Counties, South East, boasts a strong turnover and owns valuable assets, including plant, machinery, and intellectual property.
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