Rok and Connaught believed to be circling social housing firm’s repair and maintenance contract with North Somerset council
Somerset-based social housing firm Quadron Property Services has gone into administration.
A statement from administrator Deloitte said: “The business, which employs circa 397 people, has suffered from a lack of working capital and cashflow difficulties, which have meant it has now been placed in administration.”
It added: “We are currently in the process of stabilising the business, and will be meeting with staff and customers to assess options and determine the future strategy of the business.”
The company, which has an estimated £30m turnover, runs a large social housing repairs and maintenance contract for North Somerset council, which Rok and Connaught are believed to be actively trying to take on.
According to someone close to the company, staff were met at the gate last week and while some were granted entry, others were told they couldn’t enter. It is unclear at this stage how many jobs will be lost.