Public sector cuts take their toll on construction firm that worked on education and health schemes
Nottinghamshire-based construction company Baggaley & Jenkins has gone into administration.
Administrators from RSM Tenon were called in earlier this week. RSM Tenon was unavailable for comment this afternoon.
It is understood the contractor, which worked on a number of building and refurbishment projects in the education and health sectors, has been hurt by cuts in public sector spending.
The company’s collapse comes just three years after a management buy-out in 2007 by managing director Stuart Caddy and co-directors and shareholders, Keith Marshall, and James Ward.
At the time the company employed 200 staff and had an annual turnover of around £30m.
But over the last three years the firm has relied more on contract staff and sub-contractors as the recession deepened, diminishing its employee numbers to just 33.
Last year turnover fell to £10.5m.
The company was established more than 30 years ago, by partners Les Jenkins and Ken Baggaley.
It has no connection to another Nottinghamshire-based construction company with a similar name, Herbert Baggaley.
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