22 jobs lost as McMahon folds
Warwickshire construction company McMahon (Contractors Services) has collapsed into administration, with all 22 staff losing their jobs.
Jo Wright and Tracey Pye of accountancy firm BDO were appointed joint administrators on 10 February.
The business, based in Long Marston, provided groundwork and civil engineering contractors services. It ceased to trade on 6 February.
All of the 22 staff at the company, which according to the last available accounts had more than 100 employees at the year ended 30 September 2010, were made redundant.
BDO business restructuring partner Jo Wright said: "Unfortunately the economic climate and difficult trading conditions have significantly affected the business. The administrators are taking all necessary steps to maximise recoveries for the benefit of all creditors."
Pre-tax profit was £133,000 for the year to 30 September 2010, with turnover of £7.8m.
"The directors are pleased with the significant progress made despite the difficult trading in the early half of the year," the directors' report in the accounts said.
"Provided property market conditions continue to recover, the directors are confident that the company will continue its successful progress to date."
McMahon Holdings, the parent company of McMahon (Contractors Services), is not in any form of insolvency, a BDO spokesman confirmed.
"We have not been instructed to act in any capacity in respects of the company."
