M&E specializer Mechanical Facilities Services Limited (MechFS) has filed for administration.
According to The Gazette, administrators Interpath Advisory took power of the institution yesterday with the bulk of MechFS’s 75-strong workforce already made redundant.
Interpath confirmed that a quality connected a ample declaration resulted successful cashflow problems that yet led to the administration. When contacted by Construction News, the administrators said they were incapable to springiness much details connected the declaration astatine this time.
MechFS, which was founded successful 2008, trades from office successful Doncaster and has sister companies successful Ireland and Germany.
The steadfast reported a turnover successful excess of £50m successful its latest fiscal results.
Interpath managing manager Howard Smith said: “Our contiguous precedence is to assistance those employees who person been made redundant successful making claims to the Redundancy Payments Service.
“We volition besides beryllium seeking purchasers for the company’s assets, including its properties, plant, machinery and vehicles.”
This year, the operation manufacture has seen a emergence successful administrations compared with 2021. As revealed by CN earlier this week, 24 construction-related businesses went into medication successful March. Although the fig is little than the 31 failures recorded successful February, it is inactive much than the 23 that went nether successful October, which was the highest full for a azygous period successful 2021.
Business advisory steadfast Quantuma’s managing director, Brian Burke, said the existent economical interaction of COVID connected the operation manufacture was present becoming apparent, pursuing the extremity of authorities measures to guarantee businesses continued trading passim the tallness of the pandemic.