Member Article

Leicester building contractor closes

Leicester-based building contractors, Philip James Limited, has closed with a loss of 23 jobs.

The company was established in 1946, and carries out a wide range of building and maintenance work nationally.

David Lowe, Managing Director of Philip James Limited said “The business has suffered due to the general downturn in the building and construction sector and like many other contractors it has found it very difficult to secure economically viable contracts.

“We have done our best to keep the business going since the downturn but despite our best efforts we have not been able to keep it afloat.

“We are really disappointed and personally it is a sad day for me having worked for the business for over 45 years.”

Situl Raithatha of Springfields Business Recovery and Insolvency has been appointed as liquidator.

He said: “Due to the difficult trading conditions the Company has experienced severe cash flow difficulties and in the absence of sufficient funding has been forced to close down and make all the staff redundant.

“Our strategy is now to maximise realisations from the Company’s assets for the benefit of the creditors.”

This was posted in Bdaily's Members' News section by Tom Keighley .