Raj Mittal and Nathan Jones of specialist business advisory firm FRP are now in charge of the £100m+ turnover business.
Mittal said: “Despite its scale and the success achieved across a number of its divisions, the severe impact of Covid and recent inflationary pressures meant that J. Tomlinson was not in a financial position to continue trading and so we have had to make the difficult decision to cease operations.
“We’re now assessing options on next steps and have started our engagement with clients and creditors regarding ongoing projects and liabilities. We are providing support for affected staff in making applications to the Redundancy Payments Service.”
Tomlinson employed approximately 400 staff with the majority now made redundant.
CEO Mark Davis said: “We as a board have worked tirelessly to attract additional overall finance into the group to invest for the future. Sadly today, we have to announce we have been unsuccessful in this regard.
“Since Covid impacted the world and the local business community, we have worked tremendously hard to build the JTL brand across our chosen sectors with great success which is testament to all our people.
“We have many very long service colleagues who have spent a good portion of their lives supporting our business, along with their family and friends, we hoped we would end their journey with a bright future for the next generation, sadly we have run out of time.
“I would like to express my gratitude to the JTL family for their proactive attitude to our customers, to each other and the supply chain who have supported us over a long period of trading and especially post covid and the impact this outcome will have on them, and their business and their employees.
“We have employees with 30 years time invested and customers lasting 15-20 years which is incredible and tragic.
“We have done our upmost to communicate timely and provide the support to our teams which is very difficult when decisions of this magnitude are taken and implemented in the tightest of timelines.
“We will do our utmost to provide support and guidance throughout the forthcoming difficult period.”
Latest accounts for J Tomlinson for the year to September 31 2021 showed a turnover of £106m generating a pre-tax loss of £657,000.
The company employed 460 staff at the time of the accounts and owed £17.7m to trade creditors.
J Tomlinson has been in business since the 1950s and “offers a fully integrated solution covering the whole building lifecycle from new build to refurbishment, repairs and maintenance, engineering services, renewable energy solutions, and facilities management.”
The company works work from a network of regional offices in the East Midlands, West Midlands, Central England, Northern England, and Yorkshire, each supported by the head office in Nottingham.
