Jobs go as Stacey Construction enters administration
- 25 April 2014
- From the section Somerset
Sixty people have lost their jobs at a construction company in Somerset which has gone into administration.
Stacey Construction, in Wiveliscombe, was set up in 1967 and specialises in building petrol stations and motorway services.
Administrator Nick O'Reilly, said: "Timing-wise, there just isn't enough cash to keep continuing paying the staff.
"Even if the money came in tomorrow, the damage has been done."
The company said it was owed two large sums of money by clients.