50 employees of a Worcester builders have lost their jobs after the builder ran out of work.
Managing director Nick Weaver told staff Spicers had run out of work and was unable to finance its debts.
The company has instructed recovery and insolvency specialist Smith and Williamson to advise it on going into liquidation. Spicers has been in the city since 1929 and built Worcester Porcelain Museum, the King’s School library and the local swimming pool.
It was founded by Ernest V Spicer and developed into a local contractor taking on jobs of between £1-£2m with a joinery and plant business.
Neil Hickling, director of insolvency at Smith and Williamson, said he was aiming to sell Spicers’ one outstanding contract to another contractor to recoup some money.
A meeting with shareholders and creditors has been provisionally booked for 24 November.