EXCLUSIVE: Over 100 jobs lost as historic Sheffield firm goes into administration

Over 100 workers have lost their jobs after a historic Sheffield firm went into administration.

Bosses at DavyMarkham on Prince of Wales Road in Darnall, told workers the devastating news on Monday.

A spokesman for the company said 101 out of the 140-strong workforce have been handed compulsory redundancies.

The heavy engineering specialists can trace its name back to 1830 and told The Star last Friday they were facing 'financial challenges'.

A source at the firm revealed to The Star that DavyMarkham had gone into administration which was later confirmed by bosses.

Workers were originally told last Friday they wouldn't be paid will have to 'claim any salary owed back from the Government' which is supposed to take around 'three months to four months'.

A partner of one of the DavyMarkham workers who didn't want to be named, told The Star the news was 'devastating' for families across the firm.

"People have got mortgages, rent and bills to pay, it's an awful time for everybody involved," she said.

"They said they've got to go and get any unpaid wages from the Government which takes three of four months to come through. The directors claimed they haven't been paid themselves but it isn't much of a consolation.

"I've been told there's been a development but they're only communicating with workers who are in the union which isn't right."

Yasmin Bhikha and John Lowe from specialist business advisory firm FRP Advisory LLP were appointed joint administrators of DavyMarkham Limited on Monday.

The company has faced a 'number of financial and operational challenges' in recent months, which has caused 'cash-flow issues', forcing it into administration.

Headquartered in Sheffield, the Company specialises in the design, manufacture, fabrication and machining of heavy and complex engineering components and assemblies for the tunnelling, mining, steel and power generation industries.

The firm has worked on projects such as the Channel Tunnel, Gateshead Millennium Bridge and Wembley Stadium.

Joint administrator Yasmin Bhikha said: “Operating for almost 200 years, DavyMarkham is a heritage British business which has been involved in some of the country’s most prominent infrastructure projects. Sadly the Company’s financial position has forced it into administration.

"Over the coming days we will be working closely with directors to evaluate all possible routes forward and providing support to affected employees during this challenging period.”

Customers and suppliers with any questions, or interested parties should contact Tom Byrne at FRP Advisory, on [email protected]