Newtown builder J U Bowen goes into administration with loss of 30 jobs
- 5 January 2013
- From the section Mid Wales
A construction firm in Powys has gone into administration with the loss of 30 jobs.
Administrators PKF said that J U Bowen of Newtown ceased trading early last month and went into administration before Christmas.
The company was forced to close after it failed to find enough work for the winter period, PKF added.
J U Bowen was founded in 1979 and worked throughout Wales and the neighbouring counties in England.
Joint administrator Kerry Bailey, a partner in PKF's corporate recovery team, said J U Bowen had ceased to trade and made all its 30 staff redundant before administrators were appointed.
"The business was forced to close because it had recently completed a major housing contract and couldn't find enough new work elsewhere to keep going," said Ms Bailey.
The work the company performed for Environment Agency Wales also stopped over the winter period, as in previous years, she added.
"The directors recognised that the company could not fund trade through the winter and had to make the difficult decision to close down and make all staff redundant.
"As administrators, we are now making every effort to recover the company's debts and equipment, and to assess development opportunities on the land that it owns," Ms Bailey added.