Genlec Electrical Contractors Limited specializing in North West M&E has entered management. The 22-year-old company was officially appointed as joint officers of FRP Advisory on August 26, having first applied to management just over a week ago. A statement from the joint administrators said that financial challenges made the company unable to meet its financial obligations, forcing it to summon officials. 18 people hired by the company have been laid off. The company has delivered monitoring and evaluation work in the office, education, retail and logistics markets. She provided a number of high-profile jobs to main contractor Morgan Sindall across northern England, including the Lancashire County Cricket Club pavilion and a £4.3m contract at the Barbara Hepworth Building for Huddersfield University. The last set of its accounts deposited for the year ended December 31 showed the company’s cash reserves had fallen to around £563,000 from £1.9 million the year before. The company was exempted from publishing its revenues and profits due to its size. Departments have been below historical levels since the start of the pandemic. In July, only 13 construction companies entered management, compared to 36 in February 2020 before the pandemic swept the UK. Experts warned that bankruptcies may rise with the passage of the year and the withdrawal of the leave scheme and the end of the moratorium on the liquidation of petitions.
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