The Enquirer also understands subcontractors have been leaving sites run by the firm after not being paid.
Directors of the business were tied-up in meetings on Wednesday when the Enquirer tried-to make contact while emails to the company were bouncing back.
Latest accounts for the year to December 31 2021 show a turnover of £63m generating a pre-tax profit of £942,000 with the business employing 65 staff.
Metnor Construction is based in Newcastle upon Tyne but works across the UK as a main contractor in sectors including residential, healthcare, student accommodation, hotel, leisure and commercial.
Sister M&E business Norstead has also filed a notice of intention to appoint an administrator.
Latest accounts for Norstead show the company had a turnover of £20m during the year to December 31 2021 generating a pre-tax profit of £74,000 while employing 61 staff.
Data and credit checking specialist Red Flag Alert highlighted the firms’ administration notices 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.
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