London-based AGS Scaffolding has been placed in the hands of administrators.
The Leyton firm, which recently boasted it biggest scaffolding job worth £3m for the Savoy revamp, is now being run by London accountancy specialist SFP.
AGS built up a good reputation in London and the South East over 15 years offering scaffolding services to the building, civil engineering and entertainment industries.
In that time it worked on many major landmark buildings in the capital, including museum Tate Modern and the Savoy Hotel refit.
A source in the industry told the Enquirer: “With the way things are it takes just one bad paying job to cause problems. But its a big surprise that a firm like AGS has run into trouble.
“We understand that another company is in talks with the administrators to buy the assets of the firm, but nobody has heard anything more.”
Via: Construction Enquirer