Date Published: 12th February 2014
A South Wales electrical and mechanical engineering company that served both business and domestic customers has ceased trading ahead of being placed into administration.
Electro Technical Services Limited, based in Pyle, South Wales, was set up in 2004 and had developed a reputation for designing and installing electrical and mechanical equipment.
The company worked across a broad range of sectors including healthcare, sports and leisure and residential, whilst products ranged from air conditioning and heating to ventilation and lighting.
Steve Wade and David Hill, of business rescue and recovery specialist Begbies Traynor’s Cardiff office, were appointed administrators on January 31. The company had been looking for a buyer or suitable partner to enable it to continue servicing its customers’ needs.
Outstanding contracts and 14 of the company’s 18-strong team were transferred to JW Morris of Bridgend prior to the appointment of the administrators, in order to avoid disruption to customers. The four remaining staff were made redundant.
Mr Wade said: “The company has been through a difficult period and whilst it’s regrettable that a small number of posts have been lost, the outcome is positive for vast majority of the team who have joined JW Morris.
“The process of administration will allow the completion of any necessary works to secure the value in completed projects, and minimises any disruption to the contracts still in progress.”
David is a chartered accountant and licensed insolvency practitioner. He joined Begbies Traynor in 2003 having previously worked for Grant Thornton, Deloitte and BDO Stoy Hayward. He has a wide range of experience in Corporate Rescue and Recovery including both corporate and personal insolvency.