83 jobs lost at firm, with remaining 21 staff helping with the administration
The vast majority of staff at Herbert Baggaley Construction have been redundant after the firm went into administration last week..
The Nottinghamshire-based firm, which reported a pre-tax loss of 拢876k on turnover of 拢35m in the year to 31 December 201, was placed in administration on Friday, just months after a management buyout.
Chris Pole, joint administrator and restructuring director at KPMG, said the firm had suffered financial trouble because of a number of loss making contracts and ongoing difficulties in the construction sector.
Yesterday, he said 83 of the 104 staff had now lost their jobs.
He said: 鈥淯nfortunately, following a review of the position and the difficulties with continuing to trade, we have had to take the decision to make 83 staff redundant.
鈥淭he remaining employees are supporting us whilst we conduct a review of existing contracts and explore a possible sale of the remaining business. The company is involved in a wide-range of public and private sector construction contracts, including substantial work under local authority framework agreements.鈥�
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