46 jobs go as administrators appointed at William Crawford & Sons and its parent company J&T Blacksmiths
Glasgow-based construction specialist William Crawford & Sons and its parent company J&T Blacksmiths Ltd have fallen into administration, with 46 staff made redundant.
Begbies Traynor said it had been appointed administrator of the £5.5m turnover group, which specialises in industrial and architectural steelwork, after a downturn in trading led to cash flow problems.
The administrator said 46 staff had been made redundant, with the administrators keeping 42 staff on to continue trading as they seek a buyer.
Both firms are based at the Hillington Industrial Estate in Glasgow.
Paul Dounis and Ken Pattullo of Begbies Traynor were appointed joint administrators of the two companies on 19 February 2013.
Dounis said: “We are continuing to trade the businesses and continue to provide an on going service to existing customers that include major contractors. A quick sale will be needed to enable the businesses to continue to win future contracts and maintain sales revenues,” comments Paul Dounis.
“The businesses hit unresolvable cash shortfalls partly as a result of the slowdown in the market in general, but also as a result of reacting slowly to the downturn.
“However, both firms have a highly skilled workforce and very strong reputations within the market, and we are confident that their accreditation and solid customer relationships will make the businesses attractive to an acquisitive construction or manufacturing group.
“We are unable to make any guarantees regarding how long jobs will remain viable until we secure a buyer for the firms, but we are making every effort to secure a return for the creditors and secure a future for the businesses and their staff.”
J&T Blacksmiths Ltd was established in 1979 and provides steel works to major contractors and utility companies.