All 128 employees at engineering firm HE Simm and Son Limited have been made redundant after the firm went into administration after operating in Liverpool for more than 70 years.
Family-owned and operated HE Simm and Son became known as one of the 海角视频's leading engineering services businesses, delivering across the country. But this week it appointed administrators, with bosses saying financial pressures had become too much to bear., and all 128 staff have been made redundant.
Patrick Lannagan, Adam Harris and Richard Hough of Forvis Mazars LLP were appointed Joint administrators of the company, based in Spinnaker House in Sefton Street in Liverpool 8.
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HE Simm provided mechanical, electrical and plumbing (MEP) solutions to blue-chip projects across the 海角视频, generating £110m of revenue in the year to December 31 2024. CEO Gareth Simm said recent circumstances and the "harsh reality of the construction industry" meant that administration could not be avoided.
Mr Simm said: "Since the company was founded in 1948, HE Simm has been built on the talent, hard work and loyalty of its people. Over the decades we have delivered countless landmark projects together not only in the north west but all over the 海角视频, including London. We are very proud of our reputation for excellence and quality and for always ensuring that our culture and values were at the heart of everything we did.
"Sadly, recent circumstances have placed enormous pressure on the business that we have been unable to withstand. These have included a combination of factors; failure of a key client; the loss of a number of projects; delays to major schemes; increasingly commercially challenging client behaviours and losses on London projects. Some of these challenges have been ongoing for a number of years.
He added: "As shareholders, and a family, we have fought very hard, and invested heavily over the last two years in an attempt to avoid today's outcome, but in the end the harsh reality of the construction industry, the tight margins we operate at and the pressures as described, left us with no choice but to appoint administrators.
"The administrators will now take full control of the business to ensure the best possible outcome for our creditors.
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"We would like to take this opportunity to heartfeltly thank our dedicated colleagues for their unwavering commitment to HE Simm over the years. It might sound cliché but genuinely, our family was bigger than the Simm family. To say that it will be missed is an understatement.
"We would also like to thank our valued customers and suppliers for their ongoing patience and support, many of whom did everything they could to help us avoid the position we now find ourselves in, for which we will always be eternally grateful."
Richard Hough, joint administrator and director of corporate restructuring at Forvis Mazars, said: "The company has encountered cash flow challenges, resulting predominantly from challenging market conditions. After careful consideration of the financial position, the directors of the company reached the difficult decision to place the company into administration.
"Regrettably, following a review of the financial circumstances of the company the administrators have made the difficult decision to make all employees of the company redundant with immediate effect.
"The administrators are seeking contact from parties who may have an interest in acquiring the assets of the company, including existing customer contracts.
The administrators have asked anyone with an interest in the potential acquisition to e-mail Deals@mazars.co.uk and said they will be writing to all creditors in the coming days.