West Midlands construction firm with £40m-turnover falls into administration
It has worked on significant projects across the Midlands and South of England.
A prominent construction company with a turnover of about £40m has collapsed into administration, Insider Media reports.
Vidi Construction, which has its head office in Coventry, has brought in Hemal Mistry and Manubhai Govindbhai Mistry of Horsfields as joint administrators.
The company is a building contractor specialising in the design and construction of large-scale residential developments.
In its latest accounts for the year to 31 March 2023, the business reported a turnover of £39.5m and pre-tax profits of £519,819.
At the time, the average number of people employed by Vidi was 40.
The administrators have been approached for comment.