All but two of the 39 employees have been made redundant and the business is being wound up.
Bourne-based FE Peacock, established in 1991, has framework agreements in place with several social landlords for new build and housing maintenance work across East Anglia and the East Midlands.
Clients include Northern Lights Group, Quantum Consortium, Sanctuary Group, Circle Anglia, Metropolitan Housing Partnership and Cross Keys Homes as well as local authorities.
Despite this client list, administrator Adrian Allen, partner at Baker Tilly Restructuring and Recovery LLP, said that there was insufficient ongoing work to maintain the viability of the business. In addition margins had diminished as a result of a combination of the recession and government spending cuts.
鈥淒ue to lack of work the business has ceased to trade. We are making every effort where we can to assist the workforce affected and creditors involved,鈥� Mr Allen said.聽聽聽
The company is part of the Larkfleet Group, owned by managing director Karl Hick. Neither Larkfleet nor its other subsidiaries, such as Larkfleet Homes or Kestral Timber Frame, have been affected by the fall of聽 Peacock.
聽It is understood that some sites may be transferring to other Larkfleet operations.
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