Insolvency specialists from RSM Tenon were appointed as administrators for ZBP on Monday (28 January).
Attempts to sell the business have failed and all 70 employees have been laid off.
ZBP specialised in the design, monitoring and commissioning of mechanical, electrical and public health building services for new build and refurbished schemes. It also provided expert advice on acoustics, sustainability, low carbon solutions, thermal simulation and building energy performance.
RSM Tenon director Jill Sandford, who is leading the administration process, said: “ZBP is an award-winning, multi-disciplinary firm based in Richmond and formed 1958. It is unfortunate that a firm of such long-standing and high reputation has entered into administration.
She added: “ZBP recently lost four significant contracts which would have secured turnover of around £6 million. The current economic climate, which has significantly affected the construction industry, has seen fierce competition leading to substantially under-priced tenders in order to buy in work.
“Attempts have been made to sell the business as a going concern but unfortunately this has not been successful and this resulted in all employees being made redundant. The administrators will work with the partners and key members of staff to ensure as little disruption possible to the firm’s clients.”
ZBP senior partner David Saffin (pictured below) said: “The partners’ decision to appoint administrators reflects the very difficult trading conditions currently being faced by consultants and contractors alike in the construction industry and the poor outlook for the industry in the near term. ZBP partners are saddened by the impact this decision will have on loyal and long-standing members of staff and their families.”
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