The company had been suffering cashflow difficulties as a result of substantial contract losses over the last 18 months. The working capital shortfall left it unable to pay suppliers and subcontractors. Last weekend management took steps to suspend work on the company’s eight live contracts.
Guy Mander and Diana Frangou of Baker Tilly have now been appointed joint administrators to. The company has ceased trading and 52 out of the 67 employees have been made redundant. The remainder have been retained to assist the administrators in carrying out their duties and to see if any value can be generated from the contract base.
Founded in 1969, Anglo-Holt specialises in the design, construction and development of industrial and commercial buildings for clients on a nationwide basis with a bias recently towards projects in the leisure sector.
Joint administrators Guy Mander said: “The cashflow issues were such that the directors had little choice but to place the company into administration. We have appointed independent quantity surveyors to review the company’s contract base and we are currently liaising with the various customers to seek value and the best overall position for stakeholders on each contract.”
Any enquiries from interested parties should be directed to Chris Lewis at Baker Tilly on 0121 214 3100.
Pictured below is the Anglo-Holt management team of Andy Elwell (managing director), Simon Garland (financial director), Carl Sheppard (technical director), Andrew Hall (operational director) and Alf Pople (projects director).
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