Casualty of public sector cuts.
Quibell goes into administration
Published: 29 November, 2010
HULL: Quibell Construction Group has been placed into administration.
PricewaterhouseCooper’s administrators have terminated more than 90 jobs from Quibell & Son (Hull) and Humber Joiners.
The construction firm acted as the main building contractor at the group working on hospital and schools projects, and had secured places on the Yorbuild framework covering work valued up to £1m.
The two other businesses within the group, Quibell & Son Holding and Quibell & Son Development, continue to operate normally.
Mark Loftus of PricewaterhouseCoopers said that both companies had been making losses for a several years. "Trading has suffered in recent years and the administration is clearly disappointing news for the stakeholders and employees in particular," he said.
The firms are understood to have been hit by government spending cutbacks and the delay of a significant contract that hit cashflows.
Four months ago Quibell Construction Group announced it was shutting down its stonemasonry and restoration division resulting in the loss of 15 jobs.