Mansfield based contractor Baggaley and Jenkins went into administration yesterday, with the loss of around 30 jobs.
Previously the firm had employed more than 200 tradesmen and staff, but a drop in public sector work had lead to big falls in turnover and staff numbers.
In its most recent set of results, covering the financial year to the end of June 2009, the firm said turnover had fallen by almost half, to £10.5 million. Turnover was £19.9m a year earlier.
The firm also posted a loss for the second consequtive year, with pre-tax losses increasing from £9,000 in 2008, to £650,000 in 2009.
In a statement accompanying the results filing with companies house, the firm said its bankers had shown their support by renewing the firm’s financing facilities.
It is unclear at this stage what changed recently to tip the firm into administration.
Baggaley & Jenkins has no connection to Herbert Baggaley Construction, another Mansfield based firm, which is still in operation.