Electrical engineering contractor T Clarke today announced it is closing two regional offices and results will not meet its expectations for the year.
T Clarke said that given the difficult state of the markets in which it operates, the group is undertaking a restructuring programme.
As part of the restructuring programme, Barry DeFalco, managing director for UK regional operations, will stand down from the board and will be leaving the company on 30 September 2009.
The restructuring will lead to the closure or disposal of two smaller regional businesses and as part of a cost reduction process a number of redundancies will be made across the group.
But bosses said that T Clarke’s key regional operations in Scotland, Newcastle, Leeds and Derby are trading well.
The group’s order book stands at £170 million and T Clarke has cash reserves of £24 million.
A trading statement said: “Despite the difficult market conditions, the board remains confident that the group will come through the current turbulent trading environment and that the underlying business is strong.”