Torsion Construction Limited, a UK construction company specializing in residential and living sector developments, has entered liquidation, resulting in the loss of over 100 jobs. The company, founded in 2015 and based in Leeds, was appointed joint liquidators on July 29, according to The Gazette.
Details of the Liquidation
Documents reveal that the firm employed 115 people, most of whom have been made redundant. Torsion had delivered projects worth £287 million across the UK, including in major cities such as Birmingham and Manchester. According to its website, a further £303 million worth of work was still under construction when the company ceased trading.
Administrators Appointed
James Clark and Howard Smith of Interpath were appointed joint administrators on July 29 and are supporting the firm with the winding-down process. A small number of employees remain to assist with the process.
James Clark, managing director at Interpath and joint administrator of Torsion Construction, said: "Torsion Construction has faced many of the immense challenges that have confronted leadership teams right across the sector. Despite its efforts to find a sustainable solution and protect its clients from those pressures, the business’ liquidity ran out of road. With regret, Torsion Construction could not continue in its current form and was left with no other option but to cease trading. We have a team providing the appropriate information and support to staff as we work through an orderly wind down of operations."
