A Sheppey-based construction company has gone bankrupt with the loss of more than 50 jobs.
Family run Ellicon Construction, headquartered at Regis Business Park in Sheerness, has been in business for the last 20 years.
However, it was declared bankrupt after being “unable to make liability payments due to contractual difficulties and the fallout from Covid”.
The company was an earthworks and construction company with around 52 employees.
It worked across the South East with projects ranging from £50,000 to £4million, according to its website.
It also owned a fleet of excavators, forklifts, and dump trucks.
With sales of £11.2m in 2021 versus £12.1m in 2019, Ellicon has ceased trading at its three current customer sites. The company’s headquarters in Sheppey was also closed as a result of the bankruptcy.
Duncan Beat and Simon Campbell, managing directors of management consulting firm Quantuma, have been appointed joint administrators.
Mr Beat stated: “Family run businesses are the lifeblood of the UK economy and it is unfortunate that Ellicon Construction is unable to continue in business.
“We have been able to find alternative contractors to ensure client projects are delivered to completion but understand that a number of former employees are being offered employment with these contractors.
“Under the circumstances, we will do our best to maximize recoveries for creditors.”