Shaylor Group: Administration fears for Black Country construction business
Shaylor Group is the contractor working on the Wolverhampton Civic Hall revamp.
Black Country-based construction group Shaylor is feared to be on the brink of administration.
Shaylor Group is understood to have sent staff home at the end of last week after filing an intention to appoint administrators.
The group, which has its headquarters at the Anchor Brook Business Park, in Stubbers Green, Aldridge, was revealed earlier this year to be carrying out work on the delayed £38.1 million revamp of Wolverhampton Civic Hall.
The move does not yet mean the firm is in administration and will provide it with some breathing space to try and find a solution to its crisis.
A worker for a sub-contractor of Shaylor said staff were sent home on Thursday and Friday.
The Express & Star has attempted to contact the company but phones at its head office in Aldridge have not been answered.
The firm has not updated its previously active Twitter account since April 25.
In April it was reported that turnover at Shaylor had reached £152.7 million in its last financial year.
The figure for the year to the end of September was, up from £144.3m in 2016-2017.
But pre-tax profits fell from £4.8m to £2.4m for the construction group which was formed in 1968 and employs around 260.
Big projects Shaylor is working on also include the renovation of the Silverstone Experience, a museum located next to the famous Northamptonshire racetrack and a 156-apartment, mixed-use development for Black Swan Property in Birmingham's Jewellery Quarter.
The Express & Star revealed in March that Shaylor Group would be carrying out the revamp of Wolverhampton Civic Hall.
The Civic Hall will reopen in the autumn of 2021 – five years later than originally planned.
And the restoration would cost £38.1 million, almost four times its original budget.
As part of the revamp, the combined capacity at both halls will increase to 4,600 standing and 3,130 seating.
The work is being funded by the Black Country Local Enterprise Partnership, borrowing and the sale of council buildings.
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