Warrington-based technical engineering company, Caip Ltd, has gone into administration. After several delayed contracts with customers, cashflow became a problem and the company has had to cease trading and appoint administrators, resulting in 110 job cuts.
Caip Ltd provided services to the construction, renewable energy and telecoms sectors, turning over around £25 million. The company has sites in Daresbury, Didcot, Lymington and Northampton.
Joint administrators from KPMG, Brian Green and Paul Flint are overseeing the wind down of the company, keeping on seven staff to assist.
Flint commented, “The company has experienced a number of delays on contracts with key customers which has had a significant impact on its cash flow which has contributed to its failure."
If you are an employee of the business, please listen to the video below as it will tell you your rights as an employee of an insolvent business. There is a link at the end of the video to the Government website which expands further on what you need to know.