A Nottingham construction firm has gone into administration with the loss of 30 jobs. Dako Construction Limited, based at Colwick Quays Business Park, has ceased trading with immediate effect.
Taz Rashid and Rehan Ahmed, from business advisory firm Quantuma, have been appointed joint administrators of Dako Construction. Mr Rashid said: "It is deeply regrettable that Dako Construction has been forced to cease trading due to a series of what are all too familiar circumstances.
"A combination of extremely difficult trading conditions, supply chain challenges arising from the protracted exit from the coronavirus pandemic in the Far East and significant cash-flow challenges exacerbated by a series of late payments has seen the business unable to meet its liabilities. The joint administrator's immediate priorities have been to provide appropriate support to those whose roles have been affected and to work with a third party to assess the outstanding projects with a view to novating where viable to do so."
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In a statement issued on Monday (February 6), the administrators said: "The business ... employed 30 members of staff. The business has ceased trading with immediate effect, with the loss of all jobs."
Dako Construction was established in 2018 and reported a turnover of £15million, according to accounts filed in October 2022. The business specialised in creating high-quality office and retail spaces, and high-quality living space in the residential and student sectors.
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