Mon, 11 Apr 2011 | ADMINISTRATION
The East London-based scaffolding company, AGS Scaffolding, has been placed into the hands of administrators, despite recently working on one of the capital's biggest scaffolding projects.
AGS, which is headquartered in Leyton, is now being run by the insolvency specialists, SFP, after entering administration. The company had only recently completed its role in the work on the renovation of the Savoy Hotel in Central London - a job that was thought to be worth around £3 million.
The company had established a good reputation for itself over the course of 15 years, providing scaffolding services on a range of high-profile building, civil engineering and entertainment industry projects throughout London and the south east of England. The work saw it provide scaffolding for some of London's landmark buildings, including the Tate Modern gallery.
An industry insider said the administration was unfortunate and very surprising, but had heard that there was significant potential for the firm to be bought out of administration.
"With the way things are it takes just one bad paying job to cause problems," the insider said. "We understand that another company is in talks with the administrators to buy the assets of the firm, but nobody has heard anything more."
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