Bodill enters administration and axes 77 jobs
Seventy-seven people at Nottingham-based Bodill & Sons (Contractors) have been made redundant after the firm slipped into administration. Richard Philpott and Mark Orton from KPMG Restructuring have been appointed joint administrators to the firm which operates from Hucknall and Linby.
The 120-year old business, which did employ 101 staff, had been experiencing severe cash flow difficulties in recent months as a result of loss making contracts and what the administrators are calling the “changing dynamics within the construction industry.”
Philpott said: “The pressures on contractors in the current climate are immense and we envisage things only getting harder as we enter 2011. Unfortunately, Bodill & Sons had been experiencing cash flow problems for some time ultimately resulting in our appointment.
“Over the course of the next few days we will be assessing whether a number of the remaining contracts can be completed under the administration or transferred to alternative contractors. In the short term we have had to make a number of redundancies in order to stabilise the business.”
As it went into administration, the company counted six members of the Bodill family on its nine-person board of directors.
