Sanderson Contracts Limited blamed "economic uncertainty and decline in spending" for the decision to cease trading.
Established in 1999, Sanderson Contracts is based in Castleford, but delivers projects across the UK and ROI, specialising in the development, fitting and refurbishment of pubs and restaurants, as well as hotel development and news build projects.
Managing Director Ian Sanderson, who founded the company, said: “The Board of Directors are devastated to be ceasing to trade after 20 years in business. In that time, we have developed long standing relationships with our customers and suppliers.
"Like many in the construction sector, we have experienced very difficult trading conditions as projects have been cancelled or delayed in the current economic climate and issues on a number of large-scale developer led projects have negatively impacted the company.
“As soon as we became aware that income was not materialising as quickly as we had anticipated, we sought to take prompt action to minimise losses to our supply chain and customers.
“It is regrettable that job losses are anticipated as we have grown and invested in our workforce over the last 20 years and employ highly skilled people.
“The Board remain committed to working with the Administrators to maximise asset recoveries and are hopeful that a return can be made to creditors in due course.”
The appointed Administrator will be working to support affected employees and would be pleased to hear from any parties expressing interest in the company’s business.
All enquiries may be addressed to Kingsbridge Corporate Solutions on 01482 337500 or by email at [email protected]