Social housing builder becomes latest contractor to collapse

Loss-making contracts and mounting debts have brought social housing contractor Jistcourt to the brink of collapse with the firm filing an intention to go into administration.

The £13m turnover, family-run firm was established in Port Talbot in 1980 and employs around 66 people – with already close to 50 staff losing their jobs.

Huw Powell, a partner at Begbies Traynor, who is set to be made co-administrator, said: “Jistcourt has been trading successfully for almost 40 years but a number of challenging, loss-making projects have recently adversely affected its cash flow.

“Despite a strong order book, this has left the business with a legacy of debt and no way of rectifying the situation.”

He added: “Together with the remaining staff, Jistcourt’s directors will be working with clients on remaining live projects to bring them to a workable conclusion.”

Last month the housing and local authority specialist opened a new office in Bristol after winning a £6.2m contract with the city council to deliver a three-year maintenance programme.

The new office was headed up by Matthew Legg, who joined the firm in November after spending six years as a senior project manager at Lovell.

According to documents filed at Companies House, Jistcourt made a pre-tax profit £4,023 in 2017, the last year for which it filed accounts, having lost £190,637 the previous year.