Interpath Advisory were appointed joint administrators on Thursday and all 45 employees have been made redundant.
The firm has been in business since 1997 and specialises in the design, manufacture and installation of architectural precast facades.
Recent major projects for major contractors include the City of London Academy, the Jersey International Finance Centre and One Capital Square, Cardiff.
Interpath said the firm had been hit by “wider group cashflow pressures and cross guarantees” which “ultimately resulted in additional liabilities arising and no access to ongoing funding.”
David Standish, managing director at Interpath Advisory and joint administrator, said “It is unfortunate that such a long-established precast cladding business is no longer able to continue to trade despite the efforts of the directors.
“The joint administrators are committed to ensuring that the optimum outcome for creditors is achieved and supporting the employees at what is a difficult time for all concerned.”
Geoff Jacobs, managing director at Interpath Advisory and joint administrator, added: “Although the business has ceased to trade, it has a well-established infrastructure, a strong customer base and there may be an opportunity for parties who can move quickly to acquire the business and assets.
“We would recommend that any parties who have an interest in the business or its assets should contact the administrators in early course.”
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