Engineering firm Morgan Tucker collapses
Engineering consultancy Morgan Tucker as been shut down after collapsing into administration, resulting in 65 job losses.
The firm, which had offices across the UK, had run into problems when it expanded into the Middle East, where it sustained losses and suffered cash flow problems.
FRP Advisory has been appointed as administrator.
A statement from the administrator said: “Partners from FRP Advisory, the business advisory firm, have been appointed as administrators to Newark-based Morgan Tucker, the engineering services business with branches in Nottingham, Leeds and London.
“The company had faced severe financial pressure for a number of months and had sought new investment which ultimately did not come to fruition.”
Morgan Tucker was originally formed by Matthew Tucker in 2005 and expanded rapidly to provide engineering consultancy in highways, traffic and transportation, civil engineering design, structural engineering design and rail infrastructure.
Tucker stepped down as head of the company this February.
Some of its stand out projects have included full traffic and civil engineering service for Ballymore’s £120m London City Island development and phase 1 of the Embassy Gardens development at Nine Elms.
In its most recent accounts filed at Companies House for the year ended 30 April 2015, the firm reported that it owed creditors £1.3m and had net assets of £478,444.