Newcastle contractor Mentor Construction fell into administration owing more than £9.3m to hundreds of creditors across the North East and beyond.
New documents show the Killingworth-based firm, a former Northumberland and Tyneside Company of the Year at the North East Business Awards, was forced to call in administrators when a key funder pulled its backing amid cashflow difficulties caused by pandemic restrictions and rocketing costs of materials.
Specialists from FRP advisory were appointed to the business at the end of February as 80 jobs were lost in the move. As well as rapid inflation, Metnor was said to have suffered loss making contracts. Despite directors looking at various turnaround strategies, the business could not be saved.
