Killby & Gayford goes into administration
Published: 20 April, 2012
LONDON: Work has stopped on all Killby & Gayford sites as the company has gone into administration. The builder was one of the oldest firms operating in London and the South East.
Administrator BDO confirmed the firm had ceased to trade and that its 300 staff at its Billericay joinery works and offices in Cambridge, London Clapham and Leeds had been made redundant. BDO is now seeking buyers for the assets of the company.
The builder was responsible for the remodelling of 10 Downing Street in 2008. It also recently refurbished the Wallace Collection art gallery in London.
Latest results show that for the year to 31 December 2010 Killby & Gayford had a turnover of £78m and made a pre-tax profit of £1.9m. It was projecting turnover of £90m for 2011 after winning several hospital contracts, including a £20m extension for the Holly House Private Hospital in Essex and the Royal Marsden Hospital.
The closing of the 152-year-old business comes as at a time when builders are increasingly finding themselves in financial difficulty. According to research by consultancy PwC, since 2010, more than 5000 construction companies have gone bust.