Haydon Mechanical & Electrical has gone into administration.
The company is now in the hands of administrators from insolvency specialist Leading.
The collapse comes less than a year after Haydon entered a Company Voluntary Arrangement with its creditors in August 2022 following cash flow pressures.
The CVA deal was designed to distribute at least £7.2m to creditors at the rate of £200,000 a month starting in November 2022 with suppliers getting at least 80p in the £1 back for their debts.
At the time of the CVA Haydon had a loan agreement in place with its former parent company Mears who sold the firm to its management for £1 in 2013. Mears agreed to postpone all loan repayments for at least 18 months while Haydon worked through the CVA.
Latest results for the London based M&E specialist show it had a turnover of £66.2m for the year to December 31 2021 generating a pre-tax loss of £6.2m.