The coronavirus proved fatal to the 40-year-old Shackleton, Wintle and Lane Limited in Gloucestershire that has entered the administration.
Shackleton, Wintle and Lane Limited has been in business for more than 40 years and on the growth path to the outbreak of the pandemic, has declared itself the youngest victim of the Covid-19 pandemic.
The Cheltenham-based plumbing and heating specialist had sales of € 9.2 million.
Now, the Leckhampton-based company, which had grown to 120 employees by 2016, is in the hands of Administrator Mazards and has announced that it will lay off 69 of its employees at the end of September 2021.
Mark Boughey, Co-Administrator and part of the restructuring team at Mazars, said: “It is sad to see a company like Shackleton, Wintle and Lane Limited fail as a direct result of the ongoing effects of the Covid pandemic.
‘Directors had to make the difficult decision to cease trading and enter the administration to prevent the creditors’ situation from deteriorating, and we are now working closely with the company to oversee the conduct of business for all of its financial stakeholders . ‘
In a statement, Mazars said: “The impact of the Covid-19 pandemic and associated lockdowns resulted in an almost complete closure of the store, resulting in losses of around £ 400,000 over the course of the year.
“The pandemic also left its mark in 2021 as global material shortages, building material price increases and a labor shortage meant that the company was unable to meet the significantly increased demand for its services due to the relaxation of restrictions.
“As a result, the directors decided that the company had no choice but to officially cease operations and place them under management.”
By Andrew Merrell
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Wednesday October 13, 2021