Warwickshire-based electrical and mechanical contractor EIC has been placed in administration with the loss of more than 300 staff jobs.
The £80m turnover specialist national contractor operated from six offices from Cornwall to Scotland. It worked for several major contractors like BAM, Carillion and Morgan Sindall as well as counting Tesco and Marks & Spencer as clients.
Its sudden collapse has left many specialists shocked complaining that the administration came without the usual warning signs of cashflow problems.
According to a source the firm was unable to defend a winding up petition from HMRC, which led to its collapse.
One employee said: “I was told my services were no longer required on Friday and received a letter on Saturday. I didn’t see this one coming, it hits more than 300 staff but including self-employed its must have impacted over 1,000 people.”
Creditors have been trying to find out details since Friday morning when the firm was placed into administration, but all incoming calls to the Alcester head office have been blocked .
Founded in 1971, the firm became an established provider of mechanical and electrical contracting services and test and maintenance solutions.
Six years ago EIC’s then joint managing directors Ian Lyall and Nigel Le Marechal staged a £40m management buyout supported by the Royal Bank of Scotland.
Former Amey group operational efficiency director Phil Dove joined EIC nearly three years ago to become chief executive, when the MBO directors stood down.
The firm is presently working on Aldi’s headquarters in Atherstone, North Warwickshire. Its was also on Keele University’s new laboratory building, Berkeley Homes’ Chelsea Creek luxury flats scheme in London, an extension for the Royal Cornwall Hospital in Truro and a £10m GP health centre in Swindon
EIC was also due to start a a 63 apartment facility in Dorset for Yarlington Housing Group in July, closely followed by a 60 apartment facility in Devon for the Guinness Partnership in August know as Riverside.