J Tomlinson, a well-established contractor based in Nottingham, unfortunately finds itself in administration and has ceased trading, resulting in the unfortunate loss of 400 jobs.
Raj Mittal and Nathan Jones, administrators from the business advisory firm FRP, have taken charge of this thriving business that had an impressive turnover of over £100 million.
J Tomlinson Faces Administration and Job Losses
Mittal acknowledged the significant achievements of J Tomlinson in various divisions but highlighted that the severe impact of the COVID-19 pandemic and recent inflationary pressures created financial challenges that made it impossible for the company to continue its operations.
Despite this difficult decision to cease trading, Mittal and Jones are actively exploring the available options and engaging with clients and creditors to address ongoing projects and liabilities. They are also ensuring that the affected staff receive support by assisting them in their applications to the Redundancy Payments Service.
It is unfortunate that the majority of the 400 employees have been made redundant, considering the long-term dedication they have shown to the company. CEO Mark Davis expressed gratitude to the J Tomlinson family for their proactive approach towards customers, each other, and the supply chain.
The company had been striving to build the JTL brand across different sectors, achieving great success, which is a testament to the dedication of its people.
Davis also acknowledged the challenging circumstances imposed by the COVID-19 pandemic and how the company worked tirelessly to navigate through it. Despite their efforts, the company was unable to secure additional financial support, leading to this regrettable outcome.
Davis expressed his hope that the journey of employees, who had dedicated decades of service to the business, would have ended on a positive note for the next generation. Unfortunately, time ran out.
J Tomlinson’s latest financial accounts, covering the year up to September 2021, showed a turnover of £106 million. However, a pre-tax loss of £657,000 was incurred during that period. At the time, the company had 460 staff and owed £17.7 million to trade creditors.
Challenging Circumstances Force J Tomlinson’s Closure
J Tomlinson, with its rich history dating back to the 1950s, has been a prominent player in the construction industry. The company’s offerings span the entire building lifecycle, including new builds, refurbishment, repairs and maintenance, engineering services, renewable energy solutions, and facilities management.
It operates through a network of regional offices across the East Midlands, West Midlands, Central England, Northern England, and Yorkshire, all supported by its head office in Nottingham.
With over three decades of experience in the business and turnaround sector, Steve Jones is one of the founders of Business Insolvency Helpline. With specialist knowledge of Insolvency, Liquidations, Administration, Pre-packs, CVA, MVL, Restructuring Advice and Company investment.