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Building services & FM firm goes into administration

EICBuilding services and facilities management business, EIC has gone into administration following poor trading performance and increasing pressure from creditors.

Founded in 1971, the Warwickshire-based specialist national contractor had an £80 million turnover and worked for several major contractors including BAM, Carillion and Morgan Sindall.

A statement from business-advisory firm AlixPartners Services UK said:

“The company’s financial distress was driven by increasing pressure from its creditors as a result of a poor recent trading performance, underpinned by an ever increasing competitive market.

“After exploring all options available, management concluded that the cash pressures were too great and there was no alternative but to place the company into administration.

“As a result the business will cease to trade with immediate effect.”

More than 400 people have lost their jobs as a result.

 

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