Administrators appointed to GAJ Group collapse
RSM Tenon’s Birmingham corporate recovery office has been appointed joint administrator for Coventry-based GAJ Group. The construction company, which comprises three subsidiaries, entered administration last week.
Beverley Marsh at RSM Tenon is carrying out the administrations for GAJ (Holdings), GAJ Construction and GAJ Planned & Reactive Maintenance.
Thirty-three employees of GAJ Construction, based in Westwood Business Park, received redundancy letters from the company on Wednesday.
The three GAJ companies turned over a combined £18.5m in 2009.
Bev Marsh, director at RSM Tenon, said: “It appears that the group’s situation has been caused by a combination of factors. Not only has the economic downturn spelled disaster for a number of regional and national firms in the construction sector, but with public spending cuts GAJ had suffered from the reducing numbers of tenders in the market.”
RSM Tenon was also last week appointed as administrator for property and construction firm, the Image Styles group, based in Tipton.
