Tim Bateson and Ryan Grant from Interpath Advisory have been appointed Joint Administrators of Enrok Construction Limited.
The company is a family-run business specialising in the design, build and project management of residential and commercial developments. Its has offices in the East and West Midlands.
Over recent months, the company has faced several challenges including the insolvency of a key supplier along with delays to key contracts that has led to increasing cashflow pressure. In view of this, the directors concluded that insolvency was unavoidable and as such, took the decision to seek the appointment of administrators.
With the company no longer able to trade, the joint administrators made seven of the eight company employees redundant immediately following their appointment.
Tim Bateson, director at Interpath Advisory and joint administrator, said: “The building and construction sector continues to face a number of headwinds, including persistent cost inflation and material shortages which have had the effect of eroding the thin margins that are so often seen in competitive fixed price contracts.”
He continued: “Our intention is to assist the employees that have unfortunately been made redundant whilst we seek to realise the assets of the company, including exploring any interest in the company’s live contracts.”
