Andrew Duncan and Neil Bennett of Leonard Curtis Business Solutions Group have been appointed joint administrators of builders Boshers (Cholsey).
The directors at Leonard Curtis were appointed to the established building and heritage restoration company on 13 January 2017.
Oxfordshire-based Boshers specialised in high-end building projects, from the restoration and refurbishment of listed and historic properties to the construction of new, contemporary buildings.
The company has now ceased trading and the majority of the staff have been made redundant, except for a small number to assist the closing of operations.
Andrew Duncan, director, said: “It is sad to see the demise of a historic Oxfordshire family business, such as Boshers. A fall in turnover caused by difficult market conditions and a high fixed cost base meant that the business model was no longer viable.”
Boshers operated in a competitive market and has lost several major tenders in the last 18 months. The business retained tradesmen as employees rather than subcontracting to third parties, which made the company less competitive for new work and less adaptable regarding turnover levels.
In September 2015, the loss of zero rated VAT status to renovation and repair work on listed buildings had a major impact on workflow. Boshers had carried out significant amounts of work on listed buildings which due to its specialist nature was less competitive but generated a higher margin than new build work.
Boshers has won industry awards and has been featured in trade and lifestyle publications. Incorporated in 1972, the company has been trading for over 180 years and is still owned and operated by descendants of the founding family.
Dan Bosher, owner and director, Boshers (Cholsey) Limited, said: “We have worked extremely hard to save the business and are disappointed that it has come to this. We would like to thank all of our valued employees together with a number of subcontractors for their loyalty, hard work and commitment over so many years and to thank our many clients for their support.”
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