Birmingham-based Armoury Demolition and Recycling, which also has an operation in Sheffield, has gone into administration, placing 90 jobs under threat.
A statement from Armoury, which began a major demolition and regeneration project in Solihull last September, said: “The administrators are currently reviewing all the company’s contracts in progress with a view to completing these in order to maximise the return to creditors.
“Whilst it is early days in the administration, the directors of the company are fully assisting the administrators in providing the necessary information to facilitate the orderly completion of contracts. The administrators have not ruled out the possibility of salvaging the ‘goodwill’ of the core business built up over some 22 years.
“Prior to administration, the company had employed circa 90 staff and had reported an annualised turnover of approximately £8m.”