Search

Gorleston family-firm on the brink of liquidation

09:07 23 January 2013

Jamie Playford of Parker Andrews

Jamie Playford of Parker Andrews

Archant

Gorleston-based builders merchants Yarecrete Construction has announced that it is on the brink of liquidation with 15 staff set to lose their jobs.

Directors Terence and Chris Hall have instructed insolvency practitioners Parker Andrews to wind down the business before the company is expected to go into liquidation on February 7.

Jamie Playford, insolvency practitioner for Parker Andrews, said the family-run firm, which had been trading for more than 20 years, had struggled to cope with the poor state of the construction industry and had been out priced by national builders merchants.

Meanwhile, profits were also hit when it tried to integrate the Halls Group builders merchants into the business after it bought the firm out of administration in July 2011.

Creditors are owed more than £300,000 by the company– but some of that money is expected to be made back through the sale of equipment and machinery.

Mr Playford said: “The construction industry had not picked up as quickly as they thought it was going to, and they found pricing difficult when matched against builders merchants like Travis Perkins.

“The fact that is had bought Halls out of administration had become a cash drain on the firm as they tried to integrate the business.”

Search hundreds of local jobs at Jobs24

HOT JOBS

Show Job Lists

Insight

People playing Pokemon Go on St George's Street, Norwich.
Picture: ANTONY KELLY

The breakthrough of Pokémon Go marks the coming-of-age of augmented reality you can carry in your pocket. But what opportunities does it offer for business - and how can they capitalise?

J&S Jewellery was launched three years ago by sisters Jenny and Sophie Laslett and is now turning over £1M a year. Photo : Steve Adams

When launching a jewellery business in late 2012, sisters Jenny and Sophie Laslett used some borrowed money and a spare room. After ordering a small batch from a manufacturer in the Far East, their only customers the first Christmas were friends and family.

Green 100

cover

Enjoy the Green 100
digital edition

Read

Mustard TV

Meet the Team

Mark Shields

Business Editor

|

Chris Hill

Agricultural and Farming Editor

|

Shaun Lowthorpe

Business Publishing Editor

|

Sabah Meddings

Business Writer

|

Duncan Abel

Business Development Manager

Business Most Read

Awards

Norfolk Future 50 EDP Business Awards Green 100

Business Most Commented

Newsletter Sign Up