Essex-based specialist Sana Mechanical and Electrical has entered administration.
The Upminster-based firm called in Gary Thompson and Chris Newell of advisory firm Quantuma on 24 February.
The contractor’s latest published accounts, covering the year to 5 April 2023, showed it owed £671,826 to creditors within 12 months.
However this was down from £1m in its previous accounts.
Sana had net assets of £811,772 at the end of its latest period, up from £740,805 a year before.
The M&E firm had £222,537 cash at hand, more than double the previous year’s £103,396.
Sana offers engineering, electrical and lighting services. It has worked on buildings including the Royal Mail Delivery Office in Deptford, Network Rail offices in Farringdon and Turkish Baths Leisure Centre near Old Street.
The firm employed a monthly average of eight staff during its most recent year, up from six in the prior spell.
Quantuma has been contacted for more information.
Two other M&E contractors called in administrators last month. Cannock-based TNA Electrical appointed administrators from Leonard Curtis on 28 February.
The contractor, which reported turnover of £30.1m for the year to 31 January 2024 in its latest published accounts, made a £2.1m pre-tax loss in the last reported period, following a £325,218 pre-tax profit in the prior spell.
And JS Wright & Co called in FRP Advisory on 12 February.
The 135-year-old Birmingham company, which became an employee-owned trust in 2021, reported turnover of £41.8m and a pre-tax profit of £510,000 in its most recent financial year ending 29 April 2023.
It had an average monthly staff count of 160.
Despite these collapses in February, the UK’s top 10 mechanical and electrical firms grew their collective revenue by a fifth in their latest accounts, according to the CN Specialists Index 2024.
The sector’s biggest firms posted combined revenue of £3.68bn in their most recent accounts, a 21 per cent increase on the previous year’s figure.
Their combined £51.6m pre-tax profit marked a collective bounceback after the previous year’s £13.8m loss.
Read More
Greg Pitcher