FORTY employees have been made redundant just days before Christmas after an engineering firm went into administration.

Lindsey Group, which is based in Brunel Way, on the Severalls Industrial Estate, Colchester, entered administration on Friday due to ongoing financial difficulties.

Lee De’ath and Richard Toone, of CVR Global LLP, have been appointed as administrators of C H Lindsey and Son Limited which along with its holding company and other subsidiaries form Lindsey Group.

Approximately 22 jobs have been saved in the company’s maintenance department, which will continue to trade under the group name.

The established firm has operated for 93 years.

Managing director Chris Lindsey said: “The board has worked tirelessly to find a solution to the current financial difficulties with a view to rescuing the business, however, losses on large contracts and bad debts in recent years has meant the ongoing trading of the group in its current form was not possible.

“I am, however, pleased to see that the maintenance division, as Lindsey Group, will continue to trade securing a significant number of jobs.

“Lindsey Group’s focus will now be on continuing to provide our high level of service to meet our customers’ maintenance needs, without any disruption, while also supporting staff affected by the administration where we can.”

All of the company’s trading activities have been ceased with immediate effect.

Lee De’ath, who is a partner at CVR Global, said: “It is always disappointing to see a company with such a long history and reputation go into administration, we are however pleased to advise that part of the business will continue and some 22 jobs have been saved.

“We will now be working to find the best solution for the realisation of the group’s assets in order to maximise recoveries for creditors.”

In 2015, the company, which specialises in the design, installation and maintenance of heating and cooling systems for buildings, celebrated its 90th birthday.