North Lincolnshire building company Clark Construction Ltd, based in Immingham, has gone into administration with the loss of 60 jobs.
John Russell and Christopher White, partners at The P&A Partnership, Sheffield, who were appointed administrators today (January 19), confirmed that the business had ceased trading and that all employees have been made redundant.
John Russell said: “Unfortunately, the company suffered from the downturn in the construction sector and the bad weather before Christmas compounded the company’s financial difficulties.
“We have been on site assisting staff with claim forms for redundancy payments and other entitlements.”
John Russell warned businesses against leaving it too late to call in expert help: “The earlier you can bring in an expert to provide an external, independent opinion, the better chance of either re-financing or turning around the business.”
The P&A Partnership is a leading specialist business turnaround and insolvency firm with offices across the UK and in London. Their support for businesses includes restructuring, finance brokering, debt collection and selling assets.