Beale and Cole

Type
Bankruptcy
Country
United Kingdom
Region
South West (England);
Location of affected unit(s)
Exeter, Barnstaple, Plymouth (Devon), Yeovil (Somerset)
Sector
Construction
43 - Specialised construction activities
43 - Specialised construction activities
43 - Specialised construction activities
118 jobs
Number of planned job losses
Job loss
Announcement Date
27 July 2010
Employment effect (start)
27 July 2010
Foreseen end date
27 July 2010

Description

Devon-based building company Beale & Cole has gone into administration and made 118 redundancies. Administrators BDO have said that part of the company, which provides services for mechanical and electrical engineering as well as air conditioning and security equipment, has been sold and 22 jobs had been saved, but the many redundancies had been regrettable but unavoidable. It blamed the downturn in the economic climate. Tim Jones from Devon and Cornwall Business Council said that the closure could have an knock-on effect on related firms in the area.

Sources

Citation

Eurofound (2010), Beale and Cole, Bankruptcy in United Kingdom, factsheet number 70768, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70768.