The construction firm JP Group Ltd. has been placed into administration recently after struggling with its finances, an event that has lead to the loss of 30 jobs at the company.
The firm, who are located in Tewkesbury, are mainly known for their work on commercial property, including petrol stations, car dealerships and office blocks. The company was setup in 1969, employs over 100 people from the local area and last year turned over £11m.
The financial woes are being blamed on a downturn in commercial property investment. Administrators are currently working alongside the company to see which, if any, of their current contracts can be completed with the reduced workforce.
The two associated companies, JP Demolition and Petroleum Decommissioning Ltd, and TJP Homes Ltd, are not in administration themselves and have not been affected by the proceedings.
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