15 JOBS have been lost as a Heanor construction firm has gone into administration amid fears that it will be unable to pay local creditors.
Winfield Construction Limited ceased to trade as the result of “severe cashflow difficulties” but had a number of contracts still under way when administrators were called in.
Administrators MCR were appointed by the High Court of Justice on November 16 and are now reviewing the company’s contacts and disposing of it’s assets.
An MCR spokesperson said: “The company was also in arrears with a number of creditors who were supporting a winding up petition. However, the company had completed a number of contracts, and had a number under way at the time of appointment of administrators.
“In an effort to realise the value of the contracts already under way, MCR is talking to a number of third parties with a view to support those contacts. It is at this stage unclear as to the outcome of those discussions.”
The company was founded by managing director Ian Winfield in 2000 and boasted an annual turnover of £15 million. Mr Winfield also founded property developers Heanor Gate Properties Ltd in 2002 and holding company Marshall Developments (Derby) Limited in 2006.