FRP Advisory appointed Shaylor administrator

Aaron Morby 6 months ago
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Shaylor Group was formally placed into administration on Monday with around 200 staff made redundant.

Tony Barrell, partner at insolvency specialist FRP Advisory, said it had started discussions with Shaylor’s clients about the transfer of sites.

It also confirmed a small number of employees at the head office in Walsall have been retained to support the administration process.

Raj Mittal, partner at FRP Advisory in Birmingham, said: “Despite the efforts of the directors, the financial issues facing the company were not able to be resolved and resulted in the decision to place the business into administration.

“Our immediate priority is now to support those affected and work closely with the Redundancy Payments Service to ensure that employees receive every support at this difficult time.

“We will also be working closely with clients to ensure the smooth transfer of sites.”

Shaylor Group had experienced severe cash flow pressures in recent weeks following several project delays.

After unsuccessful attempts to raise additional funding, the directors took the decision to place the company into administration after it ceased to trade on 14 June.

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