Administrators for the Port Talbot based contractor Jistcourt have revealed that more workers have been made redundant following the company’s administration
Commenting on the current situation, Huw Powell, partner at Begbies Traynor, said: “Following our appointment, we identified one project capable of reaching practical completion. This was achieved successfully thanks to the hard work of the remaining staff and the willingness from Bristol City Council to work with the team.
“Unfortunately, a further 11 further redundancies have now been made. A small number of employees are still in place while we gather information to help us fulfil our duties as administrators.
“We continue to work with the remaining contract employers, with the assistance of an external quantity surveyor in an attempt to maximise returns for creditors.
“We will be issuing our statement of proposals to creditors during the next month.”
An auction of the company’s assets is currently being run by chartered surveyors, Eddisons, with the chance to view the lots at sites in Tenby and Port Talbot on 24 July.
Jistcourt was a £13m turnover firm and had been in business since 1980. It worked from the far West of Wales to the South West of England.
Powell of administrators Begbies Traynor previously told the BBC that “challenging, loss-making projects” caused cash problems.
He said: “Despite a strong order book, this has left the business with a legacy of debt and no way of rectifying the situation.
“Reluctantly, the directors have taken the difficult step of making 47 of their 66 employees redundant.”