150 jobs at risk at Trent Concrete
The company which supplied the striking lace-patterned panels used on Nottingham Contemporary is in administration. Trent Concrete, based in Colwick, has called administrators from KPMG into the business to try and salvage the company, which employs 150 people.
Richard Philpott, from KPMG Restructuring, said: “The business has historically been engaged in long term contracts and its pipeline of future work has suffered from the inherent uncertainties surrounding various public sector projects.
“During the last 12 months it has also suffered a significant drop in turnover leading ultimately to the cash pressures and trading difficulties faced by the business today.”
The company has two partially completed long term contracts and the receivers said they will look into the possibility of trading the business whilst in administrative receivership. However, the administrators said, the viability of this strategy and the ability to find a buyer for the business will be dependent on the continued support of customers, suppliers and employees.
Philpott added: “We are optimistic that trading on in receivership will be viable with stakeholder support and we anticipate considerable interest from potential buyers of the business as a going concern. Any interested parties should please contact the receivers at KPMG.”
Trent Concrete, based in Nottingham, was founded in 1917 by Sir Ernest Jardine. As well as working in Nottingham Contemporary, it also provided the concrete units for Southreef, the Nottingham mixed-use development.
Nobody from Trent Concrete was available for comment as Insider went to press this morning.
