Bristol building contractor Helm Construction has gone into administration with most of 50 workers being made redundant.
Administrators from London-based Opus Business Services were appointed on Monday after the business was hit by cashflow problems, with reports suggesting that it had not been paid for a number of recent contracts.
Potential buyers have expressed interests in acquiring some of the assets of the company, which was based at Pilning.
Helm was founded in 2014 by chief executive Gary Sheppard, who had previously worked in retail and telecoms.
It was his first company in the construction industry, although he had invested in his own private residential building projects prior to launching the business. The firm grew quickly and last year turned over around £15m.
It specialised in a wide range of construction of commercial, residential new build and domestic projects – among its recent projects were the £139,000 renovation of St Peter’s Church in Pilning, a £490,000 project to renovate and extend a large house in Rudgeway, South Gloucestershire, for a private individual, and a terrace of six three-bedroom houses in Southville worth £750,000.
The firm was also a sponsor of Bristol Bears rugby club.
