The failure of Killby & Gayford means that “the majority” of its 255 workforce have been made redundant, administrators confirmed today.
Administrators Shay Bannon and Danny Dartnaill, from BDO, were appointed over the Killby & Gayford group of companies yesterday.
The historic contractor’s projects have included the refurbishment of 10 Downing Street.
BDO confirmed the company has ceased to trade immediately and said that “regrettably, the majority of the 255 employees have been made redundant”.
Mr Dartnaill,business restructuring partner, said: “Unfortunately the economic climate and difficult trading conditions significantly affected the business.
“The joint administrators are taking all necessary steps to mitigate losses and, going forward, will seek to maximise recoveries for the benefit of all creditors.”
According to credit firm Top Service, there have been 20 unsatisfied county court judgements worth £194,127 lodged against Killby & Gayford.
These include individual CCJs to the value of £44,907 and £25,330, dated 21 March and 12 April at court in Northampton.
Another for £32,640 was recorded at a court in Reigate for 16 March, while one for £30,757 was registered to a court in Bournemouth for 17 February. The smallest is £174, dated 14 January, again in Northampton.
Company Check had by yesterday recorded 19 unsatisfied CCJs worth £184,865.
The group of companies includes Killby & Gayford Group, Killby & Gayford Consolidation, Killby & Gayford Holdings and Killby & Gayford Ltd.
The group, headquartered in London, was a leading building refurbishment contractor and had additional offices in Cambridge, Leeds and Billericay.
It performed specialised refurbishment work, primarily of bank branches and offices as well as general renovation of commercial offices, schools and historic buildings.
The company had a £77.5m turnover in 2010, with pre tax profit of £1.9m.
The joint administrators are in the process of seeking a buyer or buyers for the assets of the company.