Manchester contractor Bardsley has become the latest regional contractor to collapse.
All 200 staff were made redundant as the Tameside based firm, which has an £80m turnover, went into administration this morning.
Duff & Phelps has been appointed administrator of Bardsley Group, Bardsley Construction Limited and Bardsley Construction Holdings.
Steven Muncaster and Stephen Clancy, the joint administrators at Duff & Phelps, said the business had run into a number of problems recently. Among them were “challenging market conditions including the timely delivery of a number of recent projects, resource issues within the sector, contractual disputes with private clients together with new work opportunities being delayed as a result of the uncertainty in the economic and political environment”.
Muncaster added: “We were formally engaged in November 2019 to advise the group on its current financial position and to facilitate an accelerated merger and acquisition process or seek immediate investment to tide the group over into 2020, when a number of new orders are expected to come online.
“Despite a number of expressions of interest, no acceptable formal offers have been made for the group, leaving the directors with no option but to appoint administrators.
“The companies normally shut down over the Christmas period and, as such, this timing will enable us to undertake a further review of the financial position of the group while marketing the business and assets for sale. We will be working solidly over the holiday period to facilitate this.”
