Herts drylining firm goes under

摘要

Hertfordshire-based Grays Dry Lining Limited has filed for administration. The firm, which reported a £22m turnover in its latest accounts, had filed its notice of intention to appoint an administrator. CN spoke to one former member of staff who said he was made redundant on 28 April after being told the company was filing for administration. Administrators from FRP were appointed on 10 May. They said the company had lost contracts due to the pandemic, which reduced cashflow and led to its collapse. Grays employed 22 people in 2019, the year of its latest accounts. It was overdue filing its accounts for the year ending 31 March 2020, according to Companies House. Its previous accounts for the year to 31 March 2019 show it made a pretax profit of just over £677,000 on revenue of £21.6m. The Letchworth-based firm was founded in 1998 and worked on jobs in London and the South East.