The directors of Sanderson Contracts decided to cease trading after hitting financial difficulties. A notice has been filed with the court of the directors’ intention to appoint an administrator.
The construction company, established in 1999 by Ian Sanderson, operated from West Yorkshire but delivered projects throughout the UK and Ireland. It specialised in development, fit out and refurbishment contracts in the pub and restaurant sector, becoming involved in hotel development and new build projects in more recent times. The general economic uncertainty and decline in spending in the leisure sector has resulted in difficult trading conditions throughout the industry, the directors said.
In the year ending March 2018 it made a pre-tax profit of £232,000 on revenue of £31.2m. Two years earlier it had made £530,000 pre-tax profit on revenue of £59.8m.
Ian Sanderson, who remained managing director and sole owner of the business, said: “The board of directors are devastated to be ceasing to trade after 20 years in business. In that time, we have developed long standing relationships with our customers and suppliers. Like many in the construction sector, we have experienced very difficult trading conditions as projects have been cancelled or delayed in the current economic climate and issues on a number of large-scale developer led projects have negatively impacted the company.
“As soon as we became aware that income was not materialising as quickly as we had anticipated, we sought to take prompt action to minimise losses to our supply chain and customers.
“It is regrettable that job losses are anticipated as we have grown and invested in our workforce over the last 20 years and employ highly skilled people.
“The board remain committed to working with the administrators to maximise asset recoveries and are hopeful that a return can be made to creditors in due course.”
The administrator invites expressions of interest in the company’s business. All enquiries may be addressed to Kingsbridge Corporate Solutions on 01482 337500 or by email at email@example.com