The Isle of Sheppey based firm is now in the hands of administrators from Quantuma Advisory Ltd.
Quantuma said the firm was “declared insolvent after being unable to meet liability payments due to contractual difficulties and the knock-on effects of Covid.”
Work has stopped on its three live sites and the company’s headquarters closed.
Duncan Beat, joint administrator, said: “Family-run businesses are the lifeblood of the UK’s economy, and it is regretful that Ellicon Construction is unable to continue to operate.
“We were able to find alternative contractors to ensure its customer projects will be delivered to completion, but understand that a number of former staff will be offered employment with these contractors.
“In the circumstances, we will be doing our best to maximise recoveries for creditors.”
Latest accounts filed at Companies House for the year to May 31 2020 show Ellicon had a turnover of £10.6m generating a pre-tax profit of £338,000 and employed 86 staff.
The family-run firm had been in business since 20o2 and worked for a host of main contractors and developers across the south east.
Ellicon had its own in-house plant fleet of excavators ranging from 1.5 to 20 tonnes, forklifts, dumpers and small tools.
.gif)
