Administrator says a buyer is not likely to be found for Hemel Hempstead contractor
The Trak Group has become the latest contractor to fall victim to the recession.
The Hertfordshire-based firm ceased trading yesterday. Administrator Bridge Business Recovery said it was unlikely to find a buyer for the 14-year old firm.
The company鈥檚 clients included Crystal Palace football club, Hertfordshire County Council and Buckinghamshire County Council.
Bridge Business Recovery said the firm was working on new build and refurbishment contracts worth between 拢5,000 and 拢15m.
Contracts include the 拢3.5m redevelopment of Westminster Theatre near Buckingham Palace. The scheme for 33-flats and a 350-seat theatre won planning permission in May and is due for completion in mid to late 2010.
Bridge Business Recover said that Trak鈥檚 current contracts should attract a high level of interest from other builders.
Administrator James Bradney said: 鈥淲e will be working closely with the management to preserve value.鈥�
