One of the UK’s longest established construction and heritage restoration firms has fallen into administration after its attempts to secure a deal with creditors failed.
On September 8, 2016, Bob Maxwell and Julian Pitts of Begbies Traynor were appointed as joint administrators of William Anelay Ltd.
The company, based in York, has now ceased trading and all 126 of its staff have been made redundant.
William Anelay is a £38 million turnover, eighth generation family company which has been trading since 1747. The business has completed a large amount of high profile historic and listed building schemes throughout the UK including Lambeth Palace and Wilton’s Music Hall, London.
At the time of its collapse, the company had 17 live projects on site, including at Bradford City Hall, York Mansion House and Lancaster Castle.
After a series of cash flow difficulties, the business sough a company voluntary arrangement (CVA) with creditors, but was placed into administration when a CVA proved unviable.
The administrators said that they were assessing the best way to maximise value for creditors, while liaising with the 140 strong workforce.
The company also operates associated businesses Lowery Roofing, Hare & Ransome Joinery, Anelay Traditional Masonry and Anelay Building & Conservation. All of these are unaffected by the administration and will continue to trade as normal.
Andrew Walker and Doug Robertson from law firm Irwin Mitchell in Leeds are advising the administrators.
Joint administrator, Julian Pitts, commented said he was very sad to see the demise of such a historic Yorkshire family business.
“Unfortunately, William Anelay ran into cash flow difficulties following a period of expansion and problems with some complex projects. Despite attempts to secure a CVA, this did not prove viable and there was no alternative but to place the business into administration.
“We will be working closely with the management to realise returns for creditors and will keep the employees fully informed as the situation becomes clearer.”
