James Killelea & Co. Ltd has filed a notice of its intention to appoint an administrator.
London insolvency service, Leonard Curtis Recovery Limited, filed the application with the Companies court on Friday 13 October.
The structural steelwork specialist, based in Lancashire, was established in 1970 by James Killelea and his son Robert, the current managing director. Patrick Killelea, Robert’s brother, is the company’s financial director.
The family-run business provides structural engineering services that include 3D building design, structural steel fabrication and erection.
Accounts for the year ended 31 May 2022 show turnover had decreased by 50%, from £22.7 million in FY2021 to £11.4 million.
Losses after tax amounted to £696,835 (FY2021: £361,041).
As a result, the company had a net shareholders’ deficit of £891,893 (FY2021: £195,058).
James Killelea & Co. Ltd was approached for comment.
Want more interesting articles? Try London Luton Airport extension approved
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.