Levolux was sold to private investor Rcapital Partners LLP for £1 in August after making a loss of £2m on sales of £7.8m during the year to June 2022.

Levolux designs, manufactures, and installs solar shading systems, architectural solutions and balconies that are used to enhance buildings and to reduce the impact of sunlight for occupiers.

It was originally bought by Alumasc in 2007 for £13.5m.

Richard Goodall and Anthony Collier of business advisory firm FRP have been appointed as Joint Administrators and have made the majority of the firm’s 40 staff redundant.

Goodall said: “Levolux has unfortunately been unable to navigate through the challenging headwinds that are currently impacting the construction sector.

“Our priority will now be to assist staff with claims to the Redundancy Payments Service at what we know will be a challenging time and ensuring an orderly wind down of the business to maximise returns for creditors.”

Data and credit checking specialist Red Flag Alert highlighted the firm’s fall into administration last week with its regular checks of high court construction insolvency applications.

Subscribers to the Red Flag Alert service benefit from early warnings about the financial health of companies to help them avoid bad debts.

The Enquirer has linked-up with Red Flag Alert to offer readers a discount on its services and help you avoid worthless invoices from insolvent companies.

For more information and to benefit from the Enquirer discount click here.