Surrey consulting engineering firm Zisman Bowyer & Partners has entered administration with more than 70 jobs lost.
Insolvency specialists at RSM Tenon were appointed as administrators to the firm, which recently lost four deals worth around £6 million.
Jill Sandford, director at the Nottingham office of RSM Tenon, will be leading the administration process.
She said: “ZBP is an award-winning, multi-disciplinary firm based in Richmond and formed 1958. It is unfortunate that a firm of such long-standing and high reputation has entered into administration.”
Government capital spending cuts have been cited as a contributing factor to the demise of ZBP.
“ZBP recently lost four significant contracts which would have secured turnover of around £6 million. The current economic climate, which has significantly affected the construction industry, has seen fierce competition leading to substantially under-priced tenders in order to buy in work,” Ms Sandford added.
“Attempts have been made to sell the business as a going concern but unfortunately this has not been successful and this resulted in all employees being made redundant. The administrators will work with the partners and key members of staff to ensure as little disruption possible to the firm’s clients.”
Zisman Bowyer & Partners senior partner David Saffin said: “The partners’ decision to appoint administrators reflects the very difficult trading conditions currently being faced by consultants and contractors alike in the construction industry and the poor outlook for the industry in the near term. ZBP partners are saddened by the impact this decision will have on loyal and long-standing members of staff and their families.”
The practice specialised in the design, monitoring and commissioning of mechanical, electrical and public health building services for new build and refurbishment schemes as well as providing expert advice on acoustics, sustainability, low carbon solutions, thermal simulation and building energy performance.
ZBP employed more than 70 highly qualified, multi-disciplinary staff with wide experience in complex services design work.