Kingston Modular Systems, a long-established modular building specialist based in Hull, has ceased trading after entering administration.
The company had provided modular solutions for hospitals, clinics and other medical facilities to support rapid and flexible construction needs.
In September, the company entered into administration, reportedly due to “significant cashflow issues.”
Sources report that the company had client payment disputes reaching over £585,000, was facing downturn in demand, and had a bad-debt issue that was subject to ongoing litigation.
The business reported a fall in turnover from £17.2m to £12.6m in its most recent accounts
The company began a formal rescue process this year by seeking a new investment or buyer.
Although one offer was received during the marketing period, the deal did not progress. Now, all operations have stopped.
More than 70 employees have been made redundant as part of the closure.
Kingston Modular supplied modular buildings across several sectors, including healthcare, education and leisure.
The administrators confirmed that work on all existing projects has halted, and the future of outstanding contracts has not yet been confirmed.
Westgates Restructuring said it will now focus on realising the company’s remaining assets and supporting employees through the redundancy process.