A roofing firm in Bristol has gone into administration putting around 40 jobs at risk.
Davis Roofing, which was as established in 2006 was one of dozens of firms providing cladding, insulation and roofing services under a five-year framework, which finishes in October of next year.
The firm, which is based on South Liberty Lane trading estate, had a place on two lots in the Crescent Purchasing Consortium’s minor works framework.
The parent company, Davis Roofing Group, which is also based in Bristol remains in business.
Jonathan Dunn and Matthew Whitchurch of FRP Advisory have been appointed to oversee the affairs of Davis Roofing.
The firm’s website is no longer working.
Its most recent accounts showed that the value of Davis Roofing Ltd’s fixed assets dwindled from £225,148 in 2021/22 to £89,308 a year later. The firm’s net assets totalled £212,611.
Debts owed to creditors last year were £397,461, including £209,252 owed to trade creditors and loans of £7,040.
The parent company provided £132,850 in long-term interest-free loans that were repayable on demand.