Dry lining fit-out contractor, Astins, has ceased trading as it appoints Andrew Duncan and Andy John of Leonard Curtis Business Rescue & Recovery as joint administrators
Andrew Duncan and Andy John of Leonard Curtis Business Rescue & Recovery have been appointed as joint administrators of drywall specialists Astins Limited.
Astins Limited ceased to trade on 3 February 2020.
Based in Crawley the company employed approximately 140 people and worked with over 600 self-employed subcontractors, it had been trading for 24 years and recently reported turnover in excess of £50m per annum.
Andrew Duncan, director at Leonard Curtis, said: “The company has suffered recently as a result of a number of substantial bad debts and claims received from clients in respect of historic contracts, which have made it impossible for the business to continue to trade.”
The joint administrators confirmed that the majority of the 140 employees have been made redundant, with a small number retained to assist the administrators for a short period.
Andrew Duncan, continued: “Our focus is now on ensuring that the company’s employees receive their claim entitlements from the Redundancy Payments Service as soon as possible and making sure that any value held in the company’s current contracts and other assets is preserved for the benefit of creditors.”
Employee reaction
When news broke of Astins collapse one manager said on Linkedin: “To say this is one of the saddest days of my life is an understatement.
“I have worked for Astins Ltd for over 12 years and the fact it has had to come to an end breaks my heart. I don’t think I will ever find a work family I love more or a boss who I respect and love more than Dominic Tutt.
“The values everyone in Astins hold dear were born from Dominic’s dedication, loyalty, passion and drive for success, I have learnt so much from him and those I have had the pleasure to work with.
“It certainly is the end of an era and I especially want to thank you, Dominic Tutt, for all the opportunity you have given me and you Jim Flynn for all the faith you have had in me.”
Another senior surveyor commented: “It’s a sad day that the journey has ended with Astins after starting in 2005.
“Without Dominic Tutt, Jim Flynn and Astins giving me an opportunity all those years ago I wouldn’t have the career I have now.”
