Hopes buyer can be found to save firm

A CONSTRUCTION supplier hopes to attract a new buyer to protect its workforce after going into administration.

Stamford-based C&G Concrete Ltd, which has 120 staff, called in the services of PricewaterhouseCoopers on Monday. It follows tough trading during the winter when business dropped because concrete cannot be laid in harsh weather conditions.

But a spokesman for the admin-istrators said they were hopeful of finding a new buyer for the company, which produces aggregates, ready-mixed concrete and mortar for the construction industry.

Joint administrator Eddie Williams said: “C&G is a well-known business within its local markets with a strong reputation for quality and service, which was making significant progress in terms of its performance.

“It is early days but there has been a number of serious expressions of interest in the business and our main priority now will be to quickly progress these interested parties to the completion of a sale of the business.

“In looking to achieve a sale it will be critical that we retain the ongoing support of both the employees and the suppliers to the business.”

C & G Concrete Ltd has its head office in Uffington Road, Stamford, and operates from three quarries across Lincolnshire, Peterborough and Humberside.

A spokesman for C&G Concrete Ltd said the firm was still trading.

He said: “We are astounded to report that a winding up petition was wrongly advertised in the London Gazette last Thursday against C&G Concrete Ltd. It is no consolation to learn that this advertisement was in error.

“Our team has survived three years of fighting the worst recession since the 1930s and has maintained C&G’s leading position in its marketplace.

“We will do our utmost to ensure that our trading continues normally.”

The firm’s parent company, FH Gilman & Co, is not part of the administration process.

The Mercury asked the London Gazaette for a comment but a spokesman was unavailable.