Watfords of Wombwell Limited placed into Liquidation
February 2012
Sheffield based Chartered Accountants Hart Shaw LLP, has been instructed to assist the directors of Watfords of Wombwell in placing the Company into Creditors Voluntary Liquidation. Meetings of Members and Creditors have been convened for 21st February 2012 when the Company will be formally placed into liquidation.
Operating from Wombwell, Barnsley, the Company is family owned and traces its history back to 1934. The Company employed 38 people whose skills ranged from bricklayers, ground workers, joiners, plasterers, plumbers and decorators which enabled the Company to offer a full service to its clients. On Monday 30th January 2012 the majority of the workforce was declared redundant with a few employees being retained for a period to complete some outstanding jobs and so ensure that those customers are not let down.
Along with many other companies and businesses in the construction sector, the Company has over the last few years suffered reductions in business. Although the Company had been able to keep trading during the recession, the ongoing difficult trading conditions in the construction sector have taken their toll and the Company has now run out of money and is unable to continue trading.
Christopher Brown of Hart Shaw LLP, who is the shareholders nominated liquidator, said “It is very sad for a Company with such a long history to cease trading with the loss of 38 jobs. The directors had hoped to see out the recession and for the Company to be around when the market improves. However, the ongoing nature of the recession in the construction sector has taken its toll on the Company and the directors have been left with no alternative but to cease trading and place the company into liquidation.
Christopher Brown went on to say “Since the beginning of January we have seen an increase in insolvency activity with many different companies in the construction sector - whether it be general builders, contractors or fabricators.“