The directors of Essex-based contractor E.J. Taylor & Sons Limited have filed a Notice of Intention (NOI) to Appoint Administrators as part of a proposed restructuring process supported by FRP Advisory.

The NOI was filed at Court on Monday to provide the company with protection while marketing of the business is undertaken and a pre-packaged sale is progressed.

The business continues to trade normally in the meantime and said it will continue to make supplier and subcontractor payments.

The company added: “There is no immediate impact to clients, ongoing projects or employees.”

Samantha Peck at E.J. Taylor & Sons Limited said: “We can confirm that the company has filed a Notice of Intention to Appoint Administrators as part of a restructuring process.

“We are working with professional advisers to achieve the best outcome for everyone associated with the business via a sale to a new company backed by existing stakeholders.

“The intention is to complete this transaction in the new year with no break in trading, protecting current projects and jobs. The business continues to trade normally in the meantime and will continue to make supplier and subcontractor payments. We will make a further announcement as soon as the transaction completes.”

Glyn Mummery, Partner at FRP and proposed administrator, added: “We are supporting the directors of E.J. Taylor & Sons through a restructuring process that is intended to safeguard the long-term future of the business.

“Filing the NOI provides the necessary breathing space to progress a sale and protect the company’s operations. Our immediate focus is on helping the directors achieve a going concern outcome that preserves jobs and ensures continuity for clients and the wider supply chain.”

Latest results for E.J. Taylor & Sons show a turnover of £41.1m for the year to March 31 2024 generating a pre-tax loss of £2.5m while employing 140 staff.