Jistcourt built the timber-framed Mariner’s Court housing development in Swansea
Welsh construction firm Jistcourt South Wales is on the verge of administration and has made 47 of its 66 employees redundant.
Jistcourt South Wales filed a notice of intention to appoint Huw Powell and Katrina Orum of Begbies Traynor as administrators last week.
Powell explained that the business, which is nearly 40 years old, has struggled with a number of “challenging, loss-making projects” which have hit its cash flow.
Powell said: “Despite a strong order book, this has left the business with a legacy of debt and no way of rectifying the situation.
“Reluctantly, the directors have taken the difficult step of making 47 of their 66 employees redundant.
“Together with the remaining staff, Jistcourt’s directors will be working with clients on remaining live projects to bring them to a workable conclusion.”
Begbies Traynor is expected to be formally appointed as administrator shortly.
Donna Griffiths, CITB Wales’ partnerships manager, said: “CITB Wales is sorry to see the situation at Jistcourt Construction. We understand how stressful this time must be for the company’s employees and their families.
“CITB supports learners displaced from an organisation, along with those in the supply chain who may be affected. In the past we have been supported by employers willing to take on learners who have been made redundant.
“We are confident that learners at Jistcourt Construction can be placed with new companies. CITB Wales will work closely with industry partners and Welsh Government to help Jistcourt learners in the coming weeks.”
