Managing directors and Insolvency Practitioners Duncan Beat and Andrew Watling from cross-border advisory firm Quantuma, were appointed as Joint Administrators for
Lincolnshire-based civils and mechanical and engineering firm C G Godfrey has been placed in administration with the loss of 23 jobs.
Established in 1973 and located in West Pinchbeck in Spalding, C G Godfrey specialised in vacuum sewerage systems and deep drainage.
The company provided services for a variety of clients in the east of England including Anglian Water, North Norfolk District Council, Southern Water, Lincolnshire County Council, English Heritage, Thames Water, and South Holland District Council.
Insolvency specialist Quantuma was first called on in July went the firm experience around 300,000 loss of income on two contracts, which created cash flow problems that could not be overcome.
Quantuma tried to find a buyer for the company, either as a going concern, or for the business and assets but no firm offers were received forcing the contractor to cease trading.
Quantuma managing director and Joint Administrator Andrew Watling said: “It is deeply regrettable that C G Godfrey has been forced to cease trading, due to a series of challenging circumstances. This was a sad ending for a long-established company.”