Mon, 12 Jan 2015 | ADMINISTRATION
A Brighton, East Sussex-based electrical firm has collapsed into administration, it has been confirmed.
Techelec, located in Crowhurst Road, Holingbury, specialised in mechanical and electrical contracting and operated predominantly in London and Southern England.
The firm received a winding up order through the High Court just before Christmas, and it has now entered administration.
The company was first formed in 1968 and employed 40 people, all of whom have now lost their jobs. The administration of Techelec - which had assets of £7.1 million - will be handled by BM Advisory. According to the last set of accounts issued, the firm had more than doubled its turnover to £16 million in the year to March 2014.
Reports have confirmed that chargeholders and the administrators will now aim to recover and realise the company's assets, which principally are made up of property and debtors.
Prior to its administration, the firm was understood to have been working on a 16-storey student halls scheme in Bournemouth, which was being run by Watkins Jones Group. It was also working on Brookfield Multiplex’s University of Kent halls of residence scheme in Canterbury and Balfour Beatty’s Royal College of Music student halls.
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