Kent groundworks contractor goes into administration
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Groundworks specialist Ellicon Design has absent into administration with the loss of all 52 jobs.
The Isle of Sheppey centered agency is now in the palms of administrators from Quantuma Advisory Ltd.
Quantuma stated the company was “declared insolvent right after getting not able to meet up with liability payments due to contractual problems and the knock-on consequences of Covid.”
Function has stopped on its a few reside sites and the corporation’s headquarters shut.
Duncan Conquer, joint administrator, stated: “Family-run firms are the lifeblood of the UK’s financial system, and it is regretful that Ellicon Building is not able to keep on to operate.
“We were being in a position to obtain alternate contractors to ensure its buyer initiatives will be shipped to completion, but recognize that a selection of former personnel will be supplied work with these contractors.
“In the circumstances, we will be accomplishing our very best to maximise recoveries for creditors.”
Most current accounts filed at Firms Household for the year to May possibly 31 2020 present Ellicon had a turnover of £10.6m producing a pre-tax revenue of £338,000 and utilized 86 workers.
The household-operate organization had been in enterprise due to the fact 20o2 and labored for a host of key contractors and developers across the south east.
Ellicon had its own in-house plant fleet of excavators ranging from 1.5 to 20 tonnes, forklifts, dumpers and compact instruments.
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