A Bristol-based M&E specialist has ceased trading and is set to go into liquidation.
Priddy Engineering Services, which was too small to be required to register its turnover on Companies House, held current assets worth 1.8m in its latest accounts for the 18-month period to 31 July 2019. Of this, the firm held 357,500 in cash at bank and in hand. At the same time, Priddy owed creditors more than its current assets, with 1.9m due to be paid in one year.
The latest accounts, which showed that the firm employed 50 staff, said the period had been extremely challenging for the business for three main reasons. In 2018, the company said it undertook major unnamed projects that proved to be problematical. Secondly, it claimed protracted and unr…
Read the full article at: https://www.constructionnews.co.uk/financial/administrations/bristol-me-firm-goes-into-liquidation-23-02-2021/