Andrew Sheridan and Gareth Morris, partners at specialist business advisory firm FRP Advisory LLP, have been appointed Joint Administrators to Ikon Construction Limited on 31st May 2018.
Ikon Construction Limited is based in Bristol and was founded in 2001 but has today announced that it has ceased trading and all 50 employees have been made redundant.
Joint Administrator Andrew Sheridan said: “Ikon Construction has been a strong performing business over the years. Unfortunately difficulties with a few projects and tighter margins in the industry have led to a persistent cash liquidity issue, resulting in the Company entering administration.”
All live construction sites have been secured and the Joint Administrators, together with their appointed independent quantity surveyors, are reviewing all options available for each site.
Andrew Sheridan continues: “Every support is being provided to affected employees and we are working with customers to explore alternative routes to allow projects to be completed.”