Workers face redundancy as Benfield Group puts Midlands-based construction arm into liquidation
Benfield Construction has gone bust, resulting in the loss of 20 jobs at the Midlands-based construction firm.
Employees of the firm, which is part of the KB Benfield Group, were told on Tuesday that the company was in liquidation.
Other companies in the group, which includes Benfield Homes and Fletcher Homes (Shropshire), are unaffected by the move.
Employees of Benfield Construction told local press that the company did not pay it this month's wages, despite allegedly having the money in place last week.
An unnamed worker was quoted in the Coventry Telegraph as saying: “Our biggest grievance is we've been told there was money sitting there ready to pay us but now it has been transferred elsewhere so we are not being paid.”
Benfield Group chairman Clive Benfield said that the group had attempted to sell the company but despite five expressions of interest it was unable to inject further cash into Benfield Construction to prop it up.
Lack of work in the market was cited as a key issue for the construction arm of the company.