Insolvency firm FRP Advisory has been called in as administrator to Yorkshire firm Britspace Modular Buildings.
The firm specialises in off-site manufacturing providing modular buildings and bathroom pods to buildings across sectors including health, Education, retail and commercial.
In the past it has secured contracts on Sunderland Hospital, Warwick University and London City Airport.
FRP Advisory partners David Thornhill and Geoff Rowley have been appointed as joint administrators to the firm which currently employs 200 staff and was founded in 1972.
Mr Thornhill said: “The company has suffered significant cash flow difficulties over the last few months and, despite receiving significant orders, has been unable to fulfil all customer requirements.
“To protect the business, Britspace has entered administration; currently no redundancies have been made and it continues to trade as a going concern. We are working hard with Britspace’s management team to find a buyer for the business, and are hopeful that it will attract a number of interested parties.”
Britspace supplies a wide range of industries. In the past five years, the company has delivered more than 10,000 modular buildings to the commercial, custodial and health sectors alone.
Interested parties in the sale of the business should contact Fiona Rae at FRP Advisory on 0161 833 5621 or via email at email@example.com.