30 jobs lost as D B Russell Construction goes into administration
A CLEVEDON construction company has gone into administration resulting in the loss of 30 jobs.
D B Russell Construction, which is based in Alexandra Road, has ceased trading and was forced into administration yesterday (Wed).
The regional contractor, operating across the South West, worked developing social and affordable housing for local authorities and housing associations, as well as private housing, education developments, and commercial builds.
Tim Ball, business recovery partner of accountants, Mazars, has been appointed as joint administrator and is now looking for a buyer for the business.
D B Russell Construction was established in 1985 and underwent a change of ownership in 2008.
It had been experiencing cash flow difficulties and difficult trading conditions due to the recession for some time.
Tim Ball said: “It is very sad to see an independent company fail in this way and it is very much hoped that a buyer can be found for the benefit of its customer base and its creditors.”