Administrators have announced 83 redundancies at Herbert Baggaley Construction.
It was revealed on Friday that KPMG were appointed administrators to Herbert Baggaley Construction and the Baggaley Group.
No redundancies were made on appointment. But administrators have this evening confirmed that unfortunately 83 staff have lost their jobs.
The group originally employed 104 people from a freehold office in Mansfield, Nottinghamshire. The remaining 21 staff are assisting the administrators.
Chris Pole, joint administrator and restructuring director at KPMG, said: “Unfortunately, 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.
“The 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.”
The £35 million–turnover firm is one of Mansfield ‘s oldest companies after it was founded in 1908. It won a spot on the £70m Sport England frameworks a year ago.
Baggaley went into administration despite a management buy-out last year and efforts to restructure and refinance.
Mr Pole blamed a number of loss-making contracts and the continuing difficulties experienced in the construction sector.