The steel specialists have called in administrators after struggling to stay afloat in tough economic conditions and dwindling orders.
83 employees have been made redundant while three are being kept on to assist joint administrators from BDO, Matthew Tait and Martha Thompson.
Specialising in reinforcing steel, the Barking-based company has produced large amounts of rebar steel for other European countries and a range of private and retail projects in the UK over the years.
Thomson said in a statement, “The joint administrators are currently taking all necessary steps to maximise the realisable value of the company’s assets for the benefit of all creditors, and we are liaising with customers regarding their outstanding orders.”
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.