200 people have been made redundant after West Midlands-based contractor Shaylor Group enters into administration
Shaylor Group provides services to projects across the UK from its headquarters in Walsall and has completed for the likes of Birmingham Airport and the Ricoh Arena.
The company ceased trading on Friday (14 June) when staff were made redundant.
FRP Advisory LLP has confirmed that it was appointed as administrators on 17 June. Raj Mittal and Tony Barrell, partners at FRP Advisory, have been appointed as joint administrators.
In a statement, Raj Mittal from FRP Advisory, said: “Despite the efforts of the directors, the financial issues facing the company were not able to be resolved and resulted in the decision to place the business into administration.
“Our immediate priority is now to support those affected and work closely with the Redundancy Payments Service to ensure that employees receive every support at this difficult time.
“We will also be working closely with clients to ensure the smooth transfer of sites.”
Shaylor Group will now discuss further steps with its clients and are supporting those affected by the closure.
Some of the employees at the head office in Walsall have been kept on to support the administration process.
It is becoming extremely serious now. Kier have had a ‘tourniquet’ applied, but will the ‘haemorrhaging’ cease sufficiently to enable ‘Life’ to be pumped back in? Plus weekend email tells Shaylor Group staff that administrator will be appointed this morning. Who’s Next?
— Elvin K. Box MCIOB MBA(Open) (@ElvinBox) June 17, 2019
The news comes after Kier Group announced it would cut 1,200 jobs in order to slash its debts.