Thu, 09 Dec 2010 | ADMINISTRATION
Nottingham-based contractor Bodill Construction has filed for administration after a sustained drop in sales orders.
The firm, which has been trading since 1890, is one of the oldest construction companies in the area and remains family-owned.
Its problems began once the recession hit the construction sector, ensuring that its core market – general building projects worth up to £6 million - was significantly reduced.
Accounting firm KPMG has been appointed as administrator. Richard Philpott, from KPMG's restructuring division, said, “Though the company has historically done quite a bit of public sector work, its problems have not been caused by the spending cuts.
“It used to do comparatively small-scale work for public sector clients and as the public sector has put these contracts into larger framework agreements over the past few years it has seen its turnover reduce, ending up working for the main contractor on these larger agreements.”
Philpott added that, whilst the firm had seen a series of orders of late, they had not actually been able to take them on and as a result had been losing money. The firm then made the decision to file for administration.
The majority of the firm's staff – 77 people – have been made redundant from offices based at Linby and Hucknall. A few members of key staff have been retained in the short-term in order to work on live contracts.
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