Thu, 14 Oct 2010 | ADMINISTRATION
Denmead-based building firm, Ralls Builders, has been placed into administration with £2million worth of debts owed to more than 300 creditors.
The family-run firm - which had been in business for 121 years and had its base in Parklands Business Park - focused primarily on repairs and maintenance, refurbishment, design and build, new build and extensions.
Over the years, the firm has worked on a number of high-profile projects in the Portsmouth and Fareham area including Stubbington Ark animal shelter, Guildhall Square and Portsmouth Dockyard.
It employed 26 staff directly and had a large number of external subcontractors who relied on the firm.
Administrator James Tickell, from Portland Business and Financial Solutions, said that the firm had simply fallen victim to the current economic hardships affecting so many businesses in the construction sector.
He said, “There’s no one reason. It’s just a consequence of working in the difficult current climate. It’s been incurring losses for this year, and has basically run out of money.”
The firm is still run by the Ralls family. Two of the present directors, Nick and Will Ralls, are great-grandsons of the founder.
Portsmouth Demolition office manager Mike Brennan said, “It’s a bit of a shock really. They’re quite well-known in the area around Portsmouth and Gosport. People go under every day, but Ralls is a big one.”
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