The specialist construction company based in Kent is to enter administration, putting 250 jobs at risk. Begbies Traynor has been appointed, and workers have been told about the situation and site operations have stopped. This is the third construction business to have entered administration this week.
Nottingham M&E specialist D H Fathers and Tyneside builder Turney Wylde Construction
FWA was founded in 1941 and previously worked for Her Majesty the Queen, acting as official builder and decorator from 1996. The contractor specialised in renovation and building work on historical property, including Hampton Court Palace, Kensington Palace, the V&A and the National Gallery.
According to reports, the company made a loss of £1.59 million in the account period ending 31st August 2014.
It’s been said the drop was due to several contracts losing money despite additional funding being put into the business.
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.