The family-owned firm, registered as R L Davies & Son, traded from Llysfaen in Colwyn Bay close to the A55 expressway and counted itself as one of the principal building contractors in North Wales.
RLD employs around 25 direct employees, as well as many labour-only subcontractors.
Workers and clients heard about the firm’s plan to enter administration late last week.
In latest published accounts for 2020, RLD reported losses of £1.8m from revenue of around £14m, after being hit by Covid disruption and a 12-month over-run of its largest contract.
But several tendering successes saw the firm build a £6.5m of contracts in pipeline by March 2022 giving it optimism for the year ahead.
A source told the Enquirer: “No details have emerged yet but I can only imagine it’s down to the cost increases.”
Director Gareth Davies filed a notice of intent to appoint an administrator on 8 February.
Data and credit checking specialist Red Flag Alert highlighted the firms’ administration notices with its regular checks of high court construction insolvency applications.
Subscribers to the Red Flag Alert service benefit from early warnings about the financial health of companies to help them avoid bad debts.
The Enquirer has linked-up with Red Flag Alert to offer readers a discount on its services and help you avoid worthless invoices from insolvent companies.
For more information and to benefit from the Enquirer discount click here.
.GIF)
.gif)
