Ipswich firm goes into administration
UNCERTAINTY surrounds the future of around 90 jobs at an Ipswich-based mechanical and electrical company which has gone into administration.The directors of Warners M&E Ltd, which can trace its history back to 1845 and has an annual turnover of £9 million, called in administrators earlier today.
UNCERTAINTY surrounds the future of around 90 jobs at an Ipswich-based mechanical and electrical company which has gone into administration.
The directors of Warners M&E Ltd, which can trace its history back to 1845 and has an annual turnover of £9 million, called in administrators earlier today.
David Merrygold, corporate recovery partner of PKF Accountants and Business Advisers, who is one of the joint administrators, said today: “Warners, a long-established Ipswich firm, is feeling the effects of the downturn in the construction industry.
“We are seeing employers and main contractors not paying bills on time for the work the smaller sub contractors have done. This in turn leads to cash flow problems as is the case with Warners.”
Andrew Harper, managing director of Warners, added: “Our parent company Haymills took the decision not to support its subsidiary company Warners M&E Ltd. This left us with no option but to call in the administrators.”
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