Engineering consultant Morgan Turker has been placed into administration with all 65 staff made redundant.
The firm had its headquarters in Newark and offices in London, Leeds and Nottingham.
Morgan Tucker had been looking for investors for months after facing cash flow problems.
A statement from administrator FRP Advisory said: “Partners from FRP Advisory, the business advisory firm, have been appointed as administrators to Newark-based Morgan Tucker Ltd, the engineering services business with branches in Nottingham, Leeds and London.
“The company had faced severe financial pressure for a number of months and had sought new investment which ultimately did not come to fruition.
“The company engaged consultants from FRP Advisory to seek buyers for the business, although, despite interest from number of parties, this was not successful.
” With cash-flow becoming unsustainable the company was subsequently left with no viable alternative other than to seek the protection of administration.
“Upon appointment of administrators, the company ceased trading and all 65 staff were made redundant. The priority of the administrators for the time being is to assist those made redundant with their timely applications to the Redundancy Payments Service.
“The administrators will seek to realise the company’s assets in accordance with their statutory duties.”
Morgan Tucker was confirmed in April as making the NCE100 list for 2017 organised by New Civil Engineer.
Morgan Tucker said at the time: “The entry process was very detailed and examined all areas of the business.
“The NCE 100 showcases excellence in civil engineering by ranking the top 100 firms against New Civil Engineer’s five core pillars.”
from Construction Enquirer http://www.constructionenquirer.com/2017/06/02/engineering-consultant-morgan-tucker-goes-under/
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