Wed, 12 Jan 2011 | BUSINESS SALE
A buyer is being sought for a Blackpool-based steelwork contractor following its fall into administration.
APC Engineers, which specialises in steel fabricators and erectors, was forced to file for administration following the non-payment of a large bill for work done on behalf of a major client.
This single unpaid bill has been enough to bring down the company, with all of the 50 employees looking likely to be made redundant.
Begbies Traynor, the insolvency specialists, have been appointed as administrators and are presently running the company whilst looking for a buyer.
Jason Marsh, APC director, said, “Despite substantial secured orders for the New Year, APC has been unable to recover from the non-payment of money owed by a major client.
“This is a very distressing time for all of the 50 employees and their families and we're doing everything we can to assist each and every member of the workforce,” he added.
Mr Marsh also went on to say that structural steel companies 'were especially vulnerable at the moment' due to the 'depressed state of the construction industry and clients who continue not to pay.'
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