Wed, 16 Jun 2010 | ADMINISTRATION
Cuts in public sector spending have taken their toll on a Nottinghamshire building business, which entered administration this week with the loss of up to 30 jobs.
Mansfield-based Baggaley & Jenkins (no connection to another Mansfield construction company with a similar name, Herbert Baggaley) has worked on many contracts for building and refurbishment work for councils, schools and health services. Its suffering due to the country's general economic state was compounded by the immediate effects of the new government's freeze on new spending initiatives.
Accountancy firm, RSM Tennon, has been appointed as administrator to the firm, which is headquartered at Hermitage Way.
The development comes just three years after a management buy-out in 2007 by managing director Stuart Caddy and co-directors and shareholders, Keith Marshall, and James Ward, that drastically changed the composition of the company.
At the time it had 200 employed tradesmen and office staff, with an annual turnover of £30 million. The buy-out, however, prompted the company to rely more on contract staff and sub-contractors, diminishing its employee numbers to just 33. It also saw its turnover fall to £10.5 million last year.
The company was established more than 30 years ago, by partners Les Jenkins and Ken Baggaley.
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