HBS Group Southern has gone into administration after more than 70 years in business.
The Hampshire based M&E specialist has been trading since 1950 but is now in the hands of administrators.
Latest accounts for the year to March 31 2023 show a turnover of £15.5m generating a pre-tax loss of £1.1m with the company employing 75 staff.
In the accounts the directors mentioned “a number of emerging smaller subcontractors with significantly smaller overheads, who were able to submit considerably lower bids which the developers were eager to take advantage of.”
The firm was founded in 1950 by Harry Bull and began as a plumbing and heating contractor providing specialist services across Hampshire.
It has worked for most of the major housing developers on jobs across the south of England.
Charles Bull was appointed managing director three years ago replacing his father Kevin to become the third generation of the family to run the business.
