Wed, 26 Oct 2011 | ADMINISTRATION
Administrators have been called into South Yorkshire-based steelwork fabrication firm JGP Engineering.
Daniel and Simon Plant from insolvency company SFP were appointed on 18 October. The business has ceased to trade and the remaining 18 employees have been made redundant.
A spokeswoman reportedly said earlier on this week that the administrators hoped to sell the business, which made and installed balconies, staircases, gates, fencing and portal frame buildings for contractors including Bam Construct, Shepherd Homes, GB Building Solutions and Inspace.
Problems with finances have been attributed to the firm’s demise. It had debts of £800,000.
Administrator Mr Plant explained, “Despite working with a number of significant customers JGP had substantial cashflow issues which it was unable to overcome. The company has subsequently ceased trading.”
Founded in 1997, the firm had 50 staff at its peak and was at one time the largest supplier of balconies in Britain. It had revenues of around £1.5 million.
Rapid growth of modern city centre flat complexes helped the firm to expand. The continued slowdown in the housing market, and the knock on effect for new build developers, has since hit JGP Engineering hard.
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.