Leading Midlands demolition contractor calls in the receivers.
It may be the beginning of a New Year but it appears that the economic tribulations that plagued our industry in 2010 have no intention of going away quite yet.
Just before Christmas, we heard word that all was not well financially at Armoury Group, a leading Midlands-based demolition contractor. At that time, a combination of the festive holidays and an ominous silence from the company itself prevented us from speculating on the likely outcome.
However, a short phone call this morning (which was curtailed by a clearly frustrated telephonist hanging up on us) has confirmed that the company has called in the receivers. No further details are currently available.
As with all stories of this type, the collapse of Armoury is surrounded by rumour and speculation. Some stories suggest that the company’s financial ills stem from a single contract that went awry; other suggest a backlog of outstanding debt.
Whatever the truth – and we will be following the story closely – the UK demolition industry has lost another good demolition contractor, and some very experienced demolition professionals are starting th New Year with no job.
Through our sister website demolition-jobs.co.uk, we will be doing our best to assist employees impacted by Armoury’s demise.
