North London based groundworks and concrete specialist Bela Structures has fallen into administration.
The firm was set up over eight years ago and operated throughout London on mainly mid-rise residential projects with a total workforce of around a 100 at peak.
Bela also carried out demolition and basement works.
In recent years as cost inflation hit, the business scaled down to around 30 workers as it grew more cautious about the projects it took on. But in the end delayed payment on jobs sent the firm under.
An insider said: “It’s the usual story as a smaller subbie, clients and main contractors hold back on payments and then after that happens on a few jobs in a row you run out of cash.”