Cladding specialist Alu-Fix calls in receivers

Belfast-based specialist Alu-Fix has gone into administration.

The administrative receiver PwC said 40 employeers had been made redundant with immediate affect.

The Belfast-based contractor was one of the biggest aluminium installers in the UK specialising in curtain walling, structural glazing, cladding and retail frontages.

Alu-Fix reported a profit of £174,864 on a turnover of £9,338,160 for the year ended 30 September 2010.

Commenting on the appointment, Joint Administrative Receiver, Stephen Cave said: “It appears that the company’s funding position has deteriorated markedly over recent weeks, culminating in the company lacking sufficient cashflow to continue trading and this led to our appointment”

“Our immediate objective is to determine the precise financial position and the current status on live contracts. Unfortunately we have had no option but to make the remaining 20 permanent staff in Belfast and 20 permanent staff on GB sites redundant, with immediate effect.”