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 distributor of oils and ancillary cleaning products to a wide client base, and is not dependent on any one client or market sector. These Items are an essential component to ensure smooth operation of equipment and reduce wear & tear and reduce ope...
The company is an equestrian business comprising a popular retail store, accredited livery and riding facilities and a competitive events operation, operating from an attractive rural location in the East Midlands.
LEASEHOLD
The group provides pre-owned vehicle sales, warranty solutions, MOT inspections, part exchange, vehicle valuation, and vehicle sourcing. Additionally, the group offers car finance solutions, making it easier for customers to purchase vehicles through...
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.