Coventry construction firm Midland Steel Structures has been placed into administration.
The firm, which is based on the Binley Industrial Estate, was founded in 1979 and employed around 60 staff
Andrew Turpin and Matthew Hardy, of insolvency experts Poppleton & Appleby, have been appointed and are currently in negotiations with some of the company’s main clients with a view to finishing existing contracts.
Around 45 of the staff have been made redundant but a team has been retained with the hope of completing those contracts.
Turpin said: “The company appears to have suffered a severe drop in orders due to the downturn in the property market and public sector cuts which have hit expected building programmes.
“We are currently working with the management to fully assess the company’s situation and to decide what steps to take.”
The company has been involved on high profile contracts including Coventry University Hospital, Belgrade Plaza, Bath University Institute of Sport and Cambridge Science Park.