Wed, 21 Nov 2012 | ADMINISTRATION
Building firm Hallam Contracts looks set to enter administration in the next few days.
Reports from the Leicester Mercury revealed that the building firm has made more than three-quarters of its workforce redundant due to financial problems, with 100 staff at the company given letters telling them that the firm is set to go into administration in the next few days. Around 20 workers remain at the company, although the firm has ceased trading.
The family-run company is thought to have been forced towards administration after a sub-contractor submitted a winding-up petition that would have seen Hallam broken up and sold off. According to an office worker who received a redundancy notice, this was the “last straw” for the business, which had been working hard to resolve its financial problems.
The ex-employee, who wished to remain anonymous, told the paper: “There's only so much you can do in regard to cashflow. Some of the suppliers were willing to work with us and others weren't.
“It's a sad day, particularly for the Hallam family. However, the way the industry has been, we are not the first and won't be the last company where this happens.”
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