A West Pinchbeck engineering firm has folded leading to the loss of 23 jobs.
CG Godfrey Limited of Glenside South called in the administrators Qauntuma on August 27.
Set up in 1973, it provided civil, mechanical and electrical engineering services, particularly specialised in vacuuming sewerage systems and deep drainage.
Quanutama has appointed managing directors and insolvency practitioners Duncan Beat and Andrew Watling to oversee the process.
In a statement Quantuma said of C G Godfrey: “he company provided services for a variety of customers including local authorities, private clients, water companies, district and county councils.
Turnover of the company was £4.8m in 2023, however, the company had recently experienced a loss of income of around £300k on two contracts which created cash flow problems that could not be overcome.
The Quantuma team was first engaged in July 2024 to provide advice. A marketing exercise was undertaken by Quantuma to try to find a buyer for the company, either as a going concern, or for the business and assets. Expressions of interest were received, and NDAs signed by a number of interested parties. However, no offers were received, and the company had insufficient working capital to continue trading.
Therefore, the company entered administration on 27 August 2024 and immediately ceased to trade. C G Godfrey employed a team of 23 staff – all roles at the business have been made redundant.
Mr Watling said: “It is deeply regrettable that C G Godfrey has been forced to cease trading, due to a series of challenging circumstances. This was a sad ending for a long-established company. Our thanks go to all of the employees who worked hard during a difficult time and gave the company every chance to find a buyer. But unfortunately, it simply wasn’t to be.
“As Joint Administrators, our immediate priorities have been to provide appropriate support to those whose jobs have been affected.”
C G Godfrey’s website states: “With a low turnover of staff, some of our employees have been with C.G. Godfrey for over 25 years which enables them to draw from a wealth of experience.
“This expertise in association with continuous training has enabled the company to enjoy an unrivalled health and safety record.”
