Trent Concrete has gone into administration after its pipeline of projects was hit by the uncertainties surrounding public projects.

The Nottingham-based precast specialist firm, which employs around 150 people, had seen turnover drop during the past year and been hit by “cash pressures”.

Administrators KPMG said that no redundancies had been made yet.

Richard Philpott, from KPMG Restructuring, said:  “The business has historically been engaged in long term contracts and its pipeline of future work has suffered from the inherent uncertainties surrounding various public sector projects.

“During the last 12 months it has also suffered a significant drop in turnover, leading ultimately to the cash pressures and trading difficulties faced by the business today.”

KPMG said that the company had two partly completed long term contracts, and it would look into the possibility of trading the business while in administrative receivership.

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