Hills Building Services goes under
Published: 20 November, 2012
LONDON: Hills Building Services has been wound up by its owners, the £30m Lowe & Oliver Group, after four years in its control.
The firm struggled in the downturn and its collapse highlights the serious stresses being felt in the M&E sector, with several high profile players like MJ Coulston, Airedale M&E and parts of Rotary going under along with a welter of smaller regional firms.
This week Mitie warned it was exiting major one-off M&E work blaming poor returns. According to trade body B&ES almost one in three building services contractors have seen workloads fall off so far this year with half reporting tender prices lower than six months ago.