Contractor Michael J Lonsdale goes into administration
Slough-based construction firm Michael J Lonsdale went into administration this week, it was reported.
The mechanical and electrical services (M&E) specialist, which was established in 1986, has worked with major commercial clients on schemes such as Broadgate and the re-development of Battersea Power Station.
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Administrators from Begbie Traynors were formally appointed on Monday (October 2).
The Slough-headquartered company is of the UK’s largest M&E contractors and reportedly had around 240 staff.
Construction Enquirer reproduced a letter from directors sent to staff in full, which stated that Monday had been an "exceptionally difficult and sombre day".
Since being established, the company had been a "beacon of excellence in the industry", the letter stated.
"We have prided ourselves on consistently delivering high-quality services and have enjoyed the privilege of being the preferred M&E contractor for end users, clients, and consultants, particularly within the London region."
Various challenges had been faced in recent years, including the COVID-19 pandemic, credit rating issues, surging inflation, the ongoing conflict in Ukraine and Brexit, noted the letter.
"The combination of these challenges, coupled with the aggressive commercial tactics employed by certain general contractors, has regretably led us to this unfortunate situation."
The letter noted that the board had recently made efforts to secure refinancing for the company, but had been unable to obtain the necessary interest from potential investors within the construction industry.
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