Historic contractor Killby & Gayford went into administration yesterday, with business services firm BDO appointed as its administrator.
Killby & Gayford – which began contracting in 1860 – specialised in high quality jobs, predominantly in the restoration and refurbishment market. Its projects have included 10 Downing Street.
It is understood to have employed 300 staff. The company had a £77.5m turnover in 2010, with pre tax profit of £1.9m, according to the most recent accounts.
The company was subject to a management buy out in 2007 with a team led by then managing director Chris Chivers. Along with its head office in Clapham Common, K&G has a regional office and joinery works in Billericay, Essex.
Emma Bridges, from credit firm Top Service, said her company had been monitoring Killby & Gayford for months, with complaints about late payment from 28 different customers.
Ms Bridges said Top Service has had about 80 different reports of slow payments over the last 12 months.
She said: “We could see these payment terms getting longer and longer, which led to monitoring the company really closely, which in turn led to contacting the courts and being able to pick up that they filed for administration this morning and have since confirmed that BDO has been appointed.”
Ms Bridge said there had also been nearly £107k of county court judgements, from February to April. These included one over £25,000 on April 12.