Jarvis Contracting has fallen into administration after more than 100 years of trading.
by Rory Butler / March 1, 2023
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Company directors appointed Verulam Advisory as administrator on Tuesday, 28 February.
70 staff at its Harpenden head office in Herts have been made redundant.
An adverse market, supply chain problems and inflation made delivery of long-term fixed price contracts “unviable”, it said, adding significant trading losses meant ‘no sign of recovery’.
However, other companies within Jarvis Group, including Jarvis Homes, remain profitable and continue to trade as normal.
“The company has suffered adverse market conditions in the past two years, including supply chain problems and unexpected inflation which have made the delivery of long-term fixed price contracts unviable,” said administrators.
“The result has been significant trading losses with no signs of a recovery in the foreseeable future.
“Unfortunately, 70 staff at the Harpenden head office have been made redundant whilst the administrators seek to salvage as much value as possible from the assets and contracts.”
The company was founded by Ernest Charles Jarvis more than 100 years ago.