TASC Group Construction, the Handsworth-based diamond drilling and fire protection specialist, has ceased trading with the loss of around 30 jobs, after going into administration.
The collapse of the Dore Industrial Estate-based business comes two years after it expanded with the help of a £300,000 investment from South Yorkshire Investment Fund, which had three years earlier provided a £385,000 loan to assist a management buy out at the firm.
TASC started out as a diamond drilling company in 1998 and expanded into fire protection, providing steel coatings and seals that prevent fire and smoke from causing damage to a building and its occupants.
Chris Wood from Clough Corporate Solutions, the corporate recovery arm of Cleckheaton-based accountants Clough & Company, has been appointed administrator of TASC.
Mr Wood said the company had attempted to reschedule its debts through a Creditors Voluntary Arrangement, but had had insufficient work to meet overheads and its obligations under the CVA. As a result, TASC had ceased trading with the loss of about 30 jobs.