Essex-based civils contractor E.J. Taylor & Sons Limited has filed a Notice of Intention (NOI) to Appoint Administrators as part of a planned restructuring. The move is being led with support from restructuring specialist FRP Advisory.
The NOI was lodged at court on Monday, giving the business short-term protection from creditor action while a pre-packaged sale is progressed. During this period, the company said it will continue to trade as normal and maintain payments to suppliers and subcontractors.
In a statement, the company stressed there is no immediate impact on clients, live projects or employees. Samantha Peck of E.J. Taylor & Sons said the contractor is working with professional advisers to secure a sale to a new company backed by existing stakeholders.
The intention is to complete the transaction in the new year with no break in trading, according to the company. Management said this approach is designed to safeguard current projects and jobs while preserving continuity for the supply chain.
Proposed administrator and FRP partner Glyn Mummery said the restructuring process is aimed at securing the long-term future of the business. He added that filing the NOI provides essential breathing space to progress a going-concern sale and protect operations.
Latest filed accounts for E.J. Taylor & Sons show turnover of £41.1m for the year to 31 March 2024, with a pre-tax loss of £2.5m. The business employs around 140 staff.
