Almost 150 jobs have been lost after south Wales-based scaffolding and cladding specialist SHS Group called in administrators.
SHS Integrated Services has been operating for 19 years and provides scaffolding, access platforms and cladding for customers across a number of industries.
It worked mainly across the utility, petrochemical and transmission sectors and was expanding into mainstream construction after working at Heathrow Airport.
The group had offices in Barry, Doncaster and Port Talbot and had been facing financial difficulties for a while, mainly attributed to poorly performing contracts within its cladding and insulation divisions.
In an attempt to save the business the group had recently implemented measures to more accurately price contracts and to control site labour costs, but these measures would have taken time to implement and improve the performance of the business significantly.
The management had also been exploring a number of options to secure the future of the companies either via a refinance or a sale of the business. These attempts were ultimately unsuccessful.
The directors have taken the decision to cease trading with immediate effect and called in administrators Deloitte with Richard Hawes and Matt Cowlishaw appointed to handle the case.
