Eighty people lost their jobs on Monday after a Northamptonshire builders merchant and building company went into administration.
Group companies Deejak Construction, Deejak Builders (Rushden) and Rushden Builders Merchant (RBM) are being wound up by insolvency specialists from Begbies Traynor.
Administrators were called in on Friday April 15 and have already decided that it cannot be sold as a going concern.
Joint administrator John Kelly said that Deejak had failed because of “a combination of lack of work and difficulty getting paid”.
Kelly described Monday as ‘a sad day not just for the employees but particularly for 69-year-old Derek Titmuss who continued to run the business he had founded in 1972. “He survived several recessions but not this one, I’m afraid,” said Kelly.
The directors of Rushden Builders Merchants are Derek Leslie Titmuss, Stephen John Titmuss and Jonathan Derek Titmuss