A steelwork contractor has gone into administration owing £3.8m.
Norfolk-based Fourbay Structures appointed administrators from Bailey Price yesterday (28 August).
The firm, which was founded in 1993, focused on contracts up to £1.2m and operated across the UK. It employed 19 people from its base in Barford, near Norwich.
According to the company’s last set of accounts for the year ending 31 March 2023, it owed creditors more than £3.8m and had net assets of £332,506.
The firm specialised in bespoke structural steel including design, detail, manufacture, shot blast, paint, erect and cladding frame buildings.
Construction work included large span portals (more than 30 metres high), medium/small span portals (up to 30 metres high) and low-rise buildings (up to four storeys). Its other work included fire escapes and catwalks.
Projects included the £50m Tower Bridge Court office development, which reused steel provided from another site to meet net-zero targets. Other developments included Bedford Police Station, the University of Essex and Luton & Dunstable Hospital’s A&E department.
The firm regularly worked with tier one contractor Willmott Dixon.
The firm’s website gives no indication of the problems it has been facing. “Despite the volatile nature of the construction industry over the last 20-plus years, the company has managed to secure a regular stream of work throughout its existence,” it says.
Bailey Price and Willmott Dixon have been approached for comment.
