Ian McCulloch and Chris Lawton of Begbies Traynor were appointed as joint administrators of Stone Edge Midlands Limited on 6 January 2020. The Company ceased to trade with immediate effect and 35 employees, based across its two trading premises at Tamworth and Skipton, have been made redundant.
The Company operated as a building restoration and conservation company, completing renovation work on listed buildings and similar traditional properties.
The administrators are assessing the work in progress and contracts of the business, in conjunction with an instructed quantity surveyor, in order to establish the recovery prospects for creditors.
Joint administrator Ian McCulloch of Begbies Traynor, commented:
“Due to the specialist nature of its work and the high skill level of the employee base, Stone Edge Midlands had a significant fixed costs base and as a result was unable to recover from a reduction in trade during 2019.”
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