Cheshire-based Cruden Construction has filed a notice of intent to appoint an administrator
Employees at Cruden Construction were informed on Friday 24 July that the company was facing administration.
Accounts for the company revealed in the year to 30 September 2018 it made an operating loss of nearly £2.3m on a turnover of £38m.
Employees took to social media to share their sadness.
One wrote on LinkedIn: “Friday was a very sad and on the whole an extremely strange day, for myself and all my work family at Cruden.
“I would like to wish everyone at Cruden the best of luck in finding a new role in the coming days and weeks it’s been a real pleasure to of worked with you all during my time at Cruden.
“I am sure our paths will cross again in the future take care.”
Another commented: “Friday was a very sad day for myself and all of my work colleagues who are part of the Cruden family.
“It’s been a pleasure to work with you all and a huge thank you for all your support, advice, encouragement, guidance and the enjoyable times throughout the last 20 years.
“Good luck in your future careers, hopefully our paths will cross again. Best wishes to you and your family during this uncertain period.”
Press reports have suggested that KPMG is set to handle the administration.
In a statement, CEO of Cruden Group, Kevin Reid, said: It has today been announced that the “Cruden Group Limited” based in Warrington, North West England is regrettably entering into administration.
“For the avoidance of doubt, we would like to make it clear that, despite sharing a name, this organisation is an entirely separate business to our own. It was sold to Headcrown Group plc more than 30 years ago, and has had no connection to our own business since then.
“The Cruden Group of companies in Scotland, which is headed by Cruden Holdings Limited, and which includes Cruden Investments, Cruden Homes, Cruden Building and Hart Builders is very secure financially, with a strong forward order book in all divisions.
“We have recently announced a number of new contract wins across the group and made several senior appointments.
“Despite the economic environment, we remain very positive about the future and anticipate the group continuing its unbroken run of 21 years of profitability.”