An East Midlands construction company has gone bust with the loss of 30 jobs.
Dako Construction Limited, based at Colwick Quays Business Park in Nottingham, has called in administrators and ceased trading.
The business was incorporated in 2018 and specialised in office and retail spaces as well as the residential and student sectors.
Taz Rashid and Rehan Ahmed, from business advisory firm Quantuma, have been appointed joint administrators.
Mr Rashid said: “It is deeply regrettable that Dako Construction has been forced to cease trading due to a series of what are all too familiar circumstances.
“A combination of extremely difficult trading conditions, supply chain challenges arising from the protracted exit from the coronavirus pandemic in the Far East and significant cash-flow challenges exacerbated by a series of late payments has seen the business unable to meet its liabilities.
“The joint administrator’s immediate priorities have been to provide appropriate support to those whose roles have been affected and to work.
He said they were talking to third parties to look at outstanding projects with a view to getting new contractors on board where possible.
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