Administrators have confirmed they have been appointed to run the affairs of Breyer Group and are exploring a possible sale of parts of the business among the options for the 69 year-old company.
The Essex-based firm, which specialises in roofing, repair, and refurbishment services, officially appointed Glen Carter and Damian Webb of RSM UK Restructuring Advisory as administrators on Wednesday (1 April).
Breyer has been hit by a “number of financial difficulties and cash flow constraints as a result of certain contracts”, a statement issued by RSM UK said.
This led to “significant pressure from creditors”, the administrators said.
RSM is “exploring all options, including a potential sale of certain parts of the business”, it added.
Romford-based Breyer operates across the South and South-East of England and its clients include councils, housing associations and major landlords.
The group has seen a number of significant departures of late, including the exit of its managing director Daren Moseley at the end of 2024.
The group’s finance director, Jessica McCarthy, also left last year after less than six months in the role.
In its last filed accounts at Companies House, covering the year to the end of May 2023, Breyer reported a pre-tax profit of £637,084 on turnover of nearly £83m. This equated to a pre-tax profit margin of 0.8%.
It reported having 254 staff, with a wage bill of £12.7m.
In February, Breyer was appointed as one of the contractors on a £660m retrofit and decarbonisation framework for public sector work.
The firm gave up the stadium sponsor at Leyton Orient Football Club in 2022 after four years backing the League One team.
The company was originally founded as an asphalt roofing contractor by Fred Breyer in 1956.
It is still family-owned with Tim Breyer as its chief executive and majority shareholder.
He has run the firm firm for 30 years since taking over from his fathers according to Breyer’s website.
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James Wilmore