More than 100 workers have lost their jobs after historic construction company William Anelay Ltd went into administration.
According to administrators Begbies Traynor, the 269-year-old regeneration firm had recently proposed a company voluntary arrangement (CVA) with its creditors after experiencing cash flow problems as a result of several complex projects.
However, following the failure of moves to rescue the 1747 founded business William Anelay ceased trading and 126 staff have been made redundant.
Julian Pitts, who along with Bob Maxwell of Begbies Traynor, have been appointed as joint administrators, said: “It is very sad to see the demise of such a historic Yorkshire family business.
“Unfortunately, William Anelay ran into cash flow difficulties following a period of expansion and problems with some complex projects.
“Despite attempts to secure a CVA, this did not prove viable and there was no alternative but to place the business into administration.
“We will be working closely with the management to realise returns for creditors and will keep the employees fully informed as the situation becomes clearer. We are now in discussions with various interested parties and are hopeful that it may prove possible to novate some of the company’s contracts to ensure that work can be completed with the minimum of disruption to clients.”
Chairman and special projects director, Charles Anelay, the eighth generation of the founding family, said: “We have worked very hard to save the business and do the best for our creditors by proposing a CVA. We really believed that we had a good plan to get through our cash difficulties, and were supported by our bank and HMRC.
“The last few weeks have been the worst of my life. We are hugely disappointed that it has come to this. We thank all our staff for their commitment and loyalty, apologise to those clients and creditors who have given their support and who will now lose out, and thank all past friends of the firm and members of the public who kindly gave their support.
“All I can hope is that at some point in the future people will look back at William Anelay Ltd and recognise 260 years of skilled craftsmanship which gave us the privilege to restore parts of our country’s architectural heritage with some amazing projects on some very special buildings which will be admired far into the future.”
William Anelay also operates associated businesses Lowery Roofing, Hare and Ransome Joinery, Anelay Traditional Masonry and Anelay Building and Conservation, all of which are unaffected by the administration and will continue to trade as normal.