Three Baris companies in the Nottingham area have entered administration, leaving 136 out of 154 staff redundant, CN has learned.
The three companies are Quality in Components, which manufactures steel cladding; Baris Facades and Linings, which handles installation and fit-out and worked on Selfridges Birmingham and on four Jubilee Line stations for London Underground; and Baris Group Ltd, a holding company with no employees.
Two other companies in the group were dormant and also had no staff.
CN understands all 97 of the staff at Facades and Linings have been made redundant following brief consultations.
At Quality in Components, 39 staff have been made redundant, with a core skeleton staff of 18 people remaining operational.
A high level of interest has been shown in the Quality in Components business, CN understands.
The company’s financial difficulties resulted from a “sharp deterioration in trading conditions”, according to the firms’ administrators.
FRP Advisory has been appointed to manage the administration, with director Nathan Jones and partners Chris Stirland and Phil Armstrong handling the process.
Mr Stirland said: “Since our appointment as joint administrators, we have been assessing the viability of the operating companies at Baris, both Baris Facades and Linings, and QIC, to continue to trade while seeking buyers for all or parts of the businesses.
“Regrettably with no buyer emerging for Baris Facades and Linings, all staff at that business have now been made redundant after a period of consultation.
“We have retained a core team of staff at QIC to enable it to continue to trade. We have received expressions of interest in QIC’s business and assets and we are progressing this interest.
“We will now seek to establish whether it will be possible to sell the business and assets of QIC as a going concern.”