Rand Group, a £40m-turnover Lincolnshire-based firm, has gone into administration with the loss of up to 200 jobs
Administrators from PriceWaterhouse Coopers wound up the civil engineering, contracting and plant hire business this week.
Rand Group’s last accounts show a pre-tax profit of £42,000 on turnover of £40.7m for the year ended 31 March 2008, up 31% on 2007. However, the previous year it posted a £3.7m pre-tax loss, the third year in a row that it failed to make any money.
Construction health and safety subsidiary Rand Training is unaffected by the move.
Rand is the latest in a line of smaller contractors that have fallen into administration. Others include Haymills, Verry Construction and Wrekin.