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A recruitment company for the construction industry with offices across Northamptonshire is to close, reports the Northampton Chronicle. This news comes shortly after the latest Reed.co.uk survey listing Construction & Property as one of the biggest industry sectors, reporting year-on-year growth of +77.8%.
Solicitors for Aspire Recruitment Group Limited said the firm has ceased to trade with the loss of a number of jobs and directors have now presented a petition to be wound up by the court.
Ian Mason, of Mason Bullock Solicitors, said: “The company suffered financial difficulties as a result of the economic downturn. Negotiations to find a buyer for the business, who would take on existing contracts and staff, proved fruitless. Accordingly, on professional advice, the board had no option but to cease to trade and take such actions as were appropriate to protect the creditors, including the staff.”
Mr Mason said the board had invested considerable amounts of their own money in the company and were “disappointed they were unable to find a way forward to ensure the business to continue”.
Employees of the company have a degree of statutory protection for money owed to them out of the National Insurance Fund, which covers some unpaid wages and other sums due to staff on the cessation of a company.
It is expected that a winding-up order will be made in due course, following which the company’s affairs will be placed in the hands of the official receiver.
Mr Mason said: “The directors will co-operate fully with the official receiver who will report to creditors in due course.”
To read the full Reed report – please click here.