46 jobs to go at demolition company

A SUFFOLK-based demolition company has gone into administration with the loss of nearly 50 jobs.

A SUFFOLK-based demolition company has gone into administration with the loss of nearly 50 jobs.

CDC Demolition Ltd, which is based at Waldringfield, near Woodbridge, and has been in operation since 1965, blamed its difficulties on cash-flow problems relating to a major contract.

Andrew McTear and Chris Williams from insolvency practice McTear Williams & Wood have been appointed as joint administrators, with the entire CDC workforce of 46 being made redundant.

However, there are hopes that a buyer for the business might be found, offering a chance or re-employment for some of those affected.

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CDC provided demolition services to a variety of private and private sector clients, including specialist skills such as asbestos removal, ground decontamination and remediation of petro chemical sites.

“Over the years the business had built up a significant list of high profile customers and had an excellent track record in both safety and environmental policies,” said the administrators in a statement.

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“The directors blame losses in respect of a contract to demolish three large gasholders at Southport which caused cashflow difficulties that were sufficient to bring the business down.”

David Wood, a partner in McTear William & Wood, added: “There have been a number of parties which have expressed an interest in the business and assets.

“We will be looking at all possibilities that could salvage at least parts of the business and offer the chance of re-employment for at least some of CDC Demolition's former employees.”

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