Cheltenham-based plumbing, heating and electrical specialist Shackleton, Wintle and Lane Limited (SW&L) has gone into administration with the loss of 69 jobs.
Administrators at Mazars said the firm was brought down by the impact of the pandemic.
SWL has been in business since 1983 specialising in new build housing schemes and bespoke property renovations.
The £9.2m turnover company had seen strong profitability and year-on-year sales growth of 10% in the first half of the year ended 31 July 2020, but the impact of the Covid-19 lockdowns saw an almost complete shutdown of the business resulting in losses of circa £400,000 during the year.
The pandemic continued to make its mark during 2021, with global material shortages, building materials price increases and a shortage of labour meaning that the company was unable to meet significantly increased demand for its services as restrictions eased. During this period sales continued to fall and the company accrued further losses.
Mark Boughey, Joint Administrator, said: “It is sad to see a company like Shackleton, Wintle and Lane Limited fail as a direct result of the prolonged impact of the Covid Pandemic, having previously traded successfully for nearly 40 years.
“The directors had to make the difficult decision to cease trading and enter administration to prevent the position for creditors worsening and we are now working closely with the company to oversee the winding down the business’s affairs for all of its financial stakeholders”.
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