Concrete frame contractor Concentral has been put into administration, with the loss of 40 jobs.
The Nuneaton firm which had recently worked on high profile schemes including the £6 million Meridian Gate mixed use development for Miller Construction, and Sir Robert McAlpine’s £4 million Peat House job in Birmingham, will not be sold as a going concern.
Adminstrator, Martin Pickard from accountants, Mazar in Milton Keynes, said jobs had overrun, and the bad weather made it difficult to turn them around.
“Concentral took on contracts which did not go well for them. There were overruns, and consequently it ran out of cash at exactly the wrong time of year.”
All the men have already been laid off. “There is no chance of selling this as a going concern,” said Mr Pickard.
Concentral was set up in 2006 by former Laing O’Rourke employees, Martin Hewlett and Graeme Stewart.
The trading company Concentral Ltd and Concentral Plant, which owned the plant equipment, have both been placed into administration.