Bridgend builder closes with loss of 104 jobs

Bridgend builder closes with loss of 104 jobs

A construction and development company in business since the 1930s has ceased trading with the loss of 104 jobs.

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Jehu Group in Bridgend was known for social housing projects in Wales and the south west of England, and the developer Waterstone Homes.

The group still had 15 live contracts, worth more than £100m.

"This is a truly devastating day for the business started by our grandfather over 85 years ago," said company directors Marc and Simon Jehu.

They said the group was profitable in 2019, but its cash reserves were "decimated," first by delays caused during the Covid pandemic, and then by inflation, which put costs up by 25%.

"We were fighting a battle that simply couldn"t be won due to the successive economic shocks of the past couple of years," the directors said.

"Every possible option to keep the business alive has been completely exhausted and it is with desolate hearts that we find ourselves with no choice but to cease trading."

Insolvency specialist Begbies Traynor was hired to put companies in the group into administration. It had 15 ongoing projects with registered social landlords and local authorities.

ผู้ตั้งกระทู้ gmong :: วันที่ลงประกาศ 2022-10-22 12:19:47

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