Mechanical and electrical engineering firm Norstead has followed Metnor Construction into administration with the loss of 52 more jobs.
The specialist provider of design, installation and mechanical and electrical services is part of Metnor Group, which includes its sister company that collapsed last week. Administrators said the firm, which suffered financial troubles including pressure on profit margins, had attempted to find a speedy merger or acquisition by another business in recent weeks but was faced with no offers.
All staff at Norstead's Newcastle and Maidenhead offices were made redundant prior to the appointment of Steven Ross and Allan Kelly of specialist business advisory firm FRP this week. The administrators are now winding up the company and selling its assets.
