Pioneering timber engineering company Cowley Structural Timberwork is being wound up with the loss of all remaining jobs after administrators failed to find a buyer for the business.
A total of 36 staff will be made redundant at the Lincolnshire-based company, which went into administration in January after experiencing financial difficulties as a result of cash flow problems. Earlier cuts by administrator Kroll saw the loss of 14 jobs.
A spokesperson for Kroll said: “Despite some initial interest having been expressed, no firm offers for the business were received. As a result, the administrators have been unable to sell the business as a going concern and have begun winding it down with the loss of all remaining jobs and will now seek to sell assets on a piecemeal basis.”
Kroll had expected Waddington-based Cowley, which had a turnover of £3m, to be an attractive purchase for companies within the timber and building sectors.
Cowley’s landmark projects include the roof of the Scottish Parliament building and the Weald and Downland Museum gridshell.
