150 jobs lost as scaffolding group collapses

Aaron Morby 3 years ago
Share

South Wales-based scaffolding and cladding specialist SHS Group has called in administrators with the loss of over 150 jobs.

Smith founded SHS nearly 20 years ago

The group, which operated mainly in the industrial sector from offices in Barry, Doncaster and Port Talbot, had been struggling with losses for several years.

This was mainly down to poorly performing contracts within its cladding and HVAC insulation divisions.

SHS’s management was winding down the insulation business to concentrate on scaffolding and cladding, but ran into severe cashflow problems.

Founding director Paul Smith had explored several options in order to secure the future of his group, either via a re-finance or a sale of the business but failed to secure a deal.

The group has now ceased trading while administrators from Deloitte hold talks with potential buyers for the contracts and assets.

Deloitte’s appointment covers SHS Integrated Services Ltd, SHS Cladding Ltd, SHS Integrated Services (Transmission) Ltd and SHS Insulation Ltd.

The firm, which was established in 1998, worked mainly across the utility, petrochemical and transmission sectors and was expanding into mainstream construction after working at Heathrow Airport and seeing opportunities at Hinkley Point.

SHS counted Balfour Beatty, Costain, McGee and Laing O’Rourke as clients.

The latest accounts for main group business SHS Integrated Services showed a £2.3m pre-tax loss from revenue of £16.5m in 2015.

 

 

Latest news

Clugston files for administration

Hundreds of jobs at risk as financial crisis hits regional contractor
11 hours ago

London Resort reveals next generation theme park designs

Developer hopes to start construction in 2021
2 hours ago

Historic Liverpool building refurb now on third fit-out firm

Overbury brought in to replace Caddick who took job from Styles & Wood
3 hours ago

Green light for Birmingham’s tallest resi tower

Construction go-ahead for 51-storey skyscraper
3 hours ago

McLaren and Sisk hire regional directors from Kier

Andy Langley and Bruce Clarke take up key roles
3 hours ago

Oxford Science Park expansion approved

Major office and laboratory complex is set to be built in Oxford next autumn
3 hours ago

Giant property fund suspends dealing

Outflow of cash prompts move as investors flee sector
21 hours ago

Mace takes jump factory system to next level

Contractor launches Mace Tech business to transform high rise flats building
1 day ago

Winvic to build £57m Cardiff PRS tower

Winner confirmed for build to rent scheme as Grainger agrees funding deal
1 day ago

Creagh Concrete targets £200m turnover

Expanding concrete specialist looks to grow workforce to 1,000
1 day ago

Council fined £1.4m after falling bollard injures girl

Court hears how failings at council's highways deprtment left a six-year old with brain injuries
1 day ago

Consultation opens on ring-fencing retentions in Scotland

Specialist contractors call for action to protect retention payments
1 day ago

Vital Energi lands £7m M&E package from Berkeley Homes

Latest win for specialist at Royal Arsenal Riverside development
1 day ago

Willmott Dixon wins £39m university refurb job

London South Bank University awards contract for new learning hub
1 day ago

Edinburgh private rental scheme approved

Moda Living gets all clear on 139-flat Springside scheme
1 day ago

Plan for £100m landmark Portsmouth University project

13-storey academic building will rise to
2 days ago

Go-ahead for £500m Thames riverside fire station scheme

Developer U+I to start construction on major mixed use site in 2021
2 days ago

Just days left for deal to keep Midlands hospital restart on track

Government red tape over funding improvement targets holds up deal
2 days ago

Amey utilities and waste business up for sale

For sale sign hoisted over loss-making divisions employing around 6,000 staff
2 days ago

Skanska chalks up £23m Bristol secondary school job

Contractor has strong track record of school projects in the city
2 days ago

Nod for 350 flats plan at old Leicester City ground

Mix of rental and for sale flats to be built at former Foxes homes
3 days ago

Buyers report construction still in “contraction hole”

Speed of decline falls in November but political uncertainty casts shadow over industry
3 days ago

Boost your online presence – join the Enquirer Directory

Site for suppliers and buyers showcases products, services and latest stories
2 years ago

Heavy rain hits another major civils job

Galliford Try's £120m Lincoln Eastern Bypass turns into a quagmire
3 days ago

Sky plans major film studio complex at Elstree

Legal & General will develop and part-finance the 32-acre site in Hertfordshire
3 days ago

Chancellor pledges review of freelance tax changes

Review of planned IR35 changes could spare construction widespread disruption
3 days ago

ISG on board for £89m Cardiff bus interchange

Mixed use scheme is contractor's biggest win of the year
3 days ago

Atkins online plea to SMEs to help fix potholes

Consultant aims to reach more small firms by bypassing traditional procurement route
3 days ago

Plan for new 8,000-seat Edinburgh indoor arena

Arena scheme to include conference, retail, leisure and hotels
3 days ago

Lorne Stewart Engineering raids N G Bailey for CEO

Paul Briars returns to Lorne Stewart after 5 years as north west boss of Baileys
3 days ago

Contractor services