The specialist Staffordshire-based building firm, with a long-standing reputation in conservation and restoration, has been placed in administration.
The collapse of Linford Group, whose name goes back more than 130 years, is the latest blow to the beleaguered building industry.
Stunned staff were told to return home shortly after turning up for work at the family-run firm’s Lichfield headquarters.
Birmingham-based corporate rescue and recovery specialists Butcher Woods have been appointed administrators and are going through the firm’s accounts books and assets.
It said bad debts were to blame for its closure.
Sean Wood, chief executive of F and EV Linford Ltd, said: ‘The staff based at Hawarden have performed very impressively over the years, with many award winning projects to their credit. The situation has been brought about by a series of bad debts suffered by Linford Group Ltd. Probably the ultimate decision followed the news that a further outstanding debt would not be paid from a large contract in the Midlands.’
The Linford Group Ltd, which carried out specialist work in the construction industry across the UK, had been in business for 40 years.
Richard Goodwin, of Birmingham-based corporate recovery firm Butcher Woods, is handling the insolvency. He said: ‘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 redundancies were with ‘immediate effect’.
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