Laser Claddings in administration

Stourbridge-based Laser Claddings Ltd has entered administration after facing prolonged financial pressure following a slump in the building contracting market.

Steve Stokes and Gerald Smith, partners at FRP Advisory, were appointed as administrators on 7 July.

Mr Stokes said: “It is very sad that efforts to put the business on a more firm financial footing proved insurmountable due to the tough operating environment for building contractors and sub-contractors, despite a reasonably strong order book.

"With severe cash-flow issues, there was no alternative but to place the company into administration, which has regrettably resulted in redundancies.”

Laser Claddings employed 15 people at the time of the administration, with 10 losing their jobs and the remainder kept on to assist FRP with its plan to complete outstanding contracts where possible.