Linford Group ceases trading
Published: 17 October, 2011
LICHFIELD: Linford Group, the newbuild and refurbishment specialist has ceased trading with the loss of 240 jobs. The company had been in business for 134 years.
The firm blamed bad debts on a major contract for its demise.
Richard Goodwin of Birmingham-based corporate recovery firm Butcher Woods is handling the insolvency. He told the BBC: "The company is unfortunately another casualty of the difficulties currently being faced in the construction industry.
"We are doing what we can to work with all parties involved to maximise realisations." He said the redundancies were with "immediate effect".
Efforts would be made to find firms to buy existing contracts the company had which he said were at various stages of completion.
Linford chief executive Sean Wood said: "The situation has been brought about by a series of bad debts suffered by Linford Group.
"Probably the ultimate decision followed the news that a further outstanding debt would not be paid from a large contract in the Midlands."