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
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

DfE readies firms for ‘new deal’ schools building push

Over 30 firms in fight for places as existing £8bn framework comes up for renewal
2 hours ago

Student rooms developer gears up to build again

Unite buys Edinburgh site for 300-bed scheme after Covid-work pause
2 hours ago

Farringdon office scheme to restart after £140m funding deal

Confidence boost for London market as main contractor due to be appointed shortly
2 hours ago

HS2 team unearths Iron Age murder victim

Large wood-henge structure uncovered during Buckinghamshire tunnel site excavations
3 hours ago

Hotel and office block plan for Manchester Mayfield scheme

Work to start early next summer on 385,000 sq ft project
3 hours ago

South London’s Purley tower approved

Developer Thornsett Group get thumbs up for 17-storey tower mixed-use scheme
3 hours ago

Collapsed crane was erected day before tragedy

Wolffkran worker still seriously injured in hospital after 85-year-old woman killed
4 days ago

London council calls up firms for £6.8bn works deal

Tower Hamlets 10-year dynamic purchasing deal will cover new housing, schools and regeneration schemes
3 days ago

Arup to cut 350 UK jobs

Job cuts among 6,000 strong UK workforce to hit next month
4 days ago

Green light for £230m Sky Studios Elstree

BAM, Lendlease and VolkerFitzpatrick understood to be in running for main contract
4 days ago

M&E contractor Ilec goes into administration

Specialist goes down after sharp drop in turnover
3 days ago

Morgan Sindall starts up Salford resi tower project

Work on 23-storey apartment block reignites New Bailey scheme
3 days ago

Amey appoints former Murphy boss as transport chief

Peter Anderson to head-up Transport Infrastructure business
4 days ago

Woman killed in London crane collapse

Four others injured as jib crashes through roof of houses next to modular building site
5 days ago

Bellway asks subcontractors for 5% rate cut

House builder wants suppliers to drop prices from next month
4 days ago

Esh Group unveils 8% staff cut

Nearly 70 jobs to be cut from 840-strong workforce
4 days ago

Bouygues wins £250m London hospital expansion

Evelina London children’s hospital embarks on next phase of development plans
5 days ago

House builders returning to full productivity on site

Vistry reports falling supply chain prices while Persimmon says forward sales up 15%
4 days ago

Firms to get £1,000 for every worker brought off furlough

Plan for jobs promises £6,500 for work placement kickstarters and £2,000 for apprentices
5 days ago

£3bn green boost as construction leads Covid recovery

Investment for energy efficient retrofitting and stamp duty holiday to boost housing market
5 days ago

Law firm caps fees for smaller construction disputes

Fixed-fee adjudication service will not see legal bills for contractors rise above £5,000
5 days ago

Top contractors orders down 44% over three months

Wates tops June contracts league with major high-rise flats order
5 days ago

£110m Dagenham film studio complex approved

Council regeneration company seeking film partner to start the project rolling
5 days ago

North East carbon capture project to create 5,500 jobs

Construction of £1.8bn project to run for four years
5 days ago

U+I cuts capital spending by £33m

Work scaled back in coming year but developer bullish about longer term prospects
5 days ago

Driver killed as concrete smashes through windscreen

Police hunt for lorry shedding its load
5 days ago

Argent chief to head Oxford Uni £4bn housing partnership

Anna Strongman takes over as CEO of Oxford University Developments in September
6 days ago

Taziker lands £24m Bristol station refurb contract

First major overhaul of Temple Meads for 25 years
6 days ago

Plan for £600m North Wales tidal energy lagoon

It is hoped the scheme could be given the green light by 2023
6 days ago

Keep the industry updated by joining the Enquirer Directory

Membership lets construction know you are open for business now or in the future
2 years ago

Contractor services