Lincolnshire steel firm enters administration

Lincolnshire steel engineering business D A Green & Sons Limited has entered administration with the appointment of R Grant, S Wilson and A O’Keefe of Zolfo Coopers.

Crippling cash flow problems led to the move, with the subsequent loss of 100 staff. The administrators are presently assessing unfinished contract commitments at the business.

Established in 1954, D A Green & Sons specialises in fabrication and erection of steelwork, and also provides additional cladding and roofing services. Situated on an eight-hectare site, the business is run from a 167,000 sq. ft. manufacturing facility. The structural steelwork aspect of the business is able to produce 1,000 tonnes of fabricated steel per month.

The cladding side of the business is run from another site located within a 50-mile radius of its main site at Whaplode, Spalding.

Past projects worked on include Heathrow Approach, Harlequins rugby club and Trent Bridge cricket ground.

Joint administrator Mr Grant commented: “Unfortunately the business has experienced severe cash flow difficulties, which combined with a tough trading environment has led to the need for administration.”

“We regret that we were left with no choice but to lay off the majority of the workforce…”

While the firm has reported consistent revenues of around £15 million for the past three years, it also recorded pre-tax losses of £704k for 2009, from a profit of £296k for the year to 30 April 2008.

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