Contractors and employees at recruitment firm Coal Intelligent Technology may be left out of pocket after the company ceased trading yesterday. <\/p>\n
A letter from the administrator to contractors seen by the The Register, said the company went into administration on 10 February. <\/p>\n
It said: \"The Administrator is unable to say for sure that you will be paid for the work done for the company prior to the appointment.\" <\/p>\n
One contractor got in touch to say they could lose two months of invoices as a result. \"This is the first time it has happened to me in 16 years of contracting.\" <\/p>\n
The Register understands Coal had around 60 contractors on its books before going into administration. A number of full-time employees are also thought to be significantly affected by the administration. <\/p>\n
A further letter sent on 15 February, said that despite efforts to do so, the administrator \"has not been able to complete a sale of the companys business and assets as a going concern and the Company has now ceased to trade.\" <\/p>\n
In its last Companies House filing for the full year 2015, Coal reported a turnover of 15.6m and a pre-tax profit of 256,000. <\/p>\n
The Register spoke to Coal Intelligent Technology, which confirmed the administrators had been appointed. <\/p>\n
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See original here:<\/p>\n
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