One of Wales’ oldest construction and property development firms, Jehu, has formally gone into administration. Last month the Bridgend-based business, run and owned by the Jehu family and which dates back four generations to the 1930s, announced its intention to enter administration in a move that resulted in 103 staff being made redundant with immediate effect.
Now formal administration procedures have commenced for Jehu Group, Jehu Project Services and Waterstone Homes. Huw Powell, Katrina Orum and Paul Wood of insolvency firm Begbies are joint administrators. It is not yet clear what creditors, if anything, will get back from the sale of assets.
The directors of Jehu Civils, Waterstone Estates and Abode Waterstone are currently collating information and seeking advice from Begbies Traynor. It is anticipated that these companies will take steps to proceed to creditors’ voluntary liquidation. No other group companies are currently proposed to enter any form of insolvency.
