Alistair McAlinden and Geoff Jacobs, of Interpath, have been appointed joint administrators to BGL Contracts Limited.
The administrators pointed to “unforgiving contracts” which are leaving companies like BGL “highly vulnerable to insolvency”.
The company was a subcontractor specialising in electrical fit-out to clients across a number of sectors, “notably in leisure and hospitality, automotive and retail”.
The administrators said that the business operated in a “highly competitive market” and, in recent months, “had struggled to overcome financial challenges amidst rising costs, low contract margins and the rephasing of some major contracts”.
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The administrators said: “Despite…