Steelwork contractor Barretts of Aspley has ceased trading after four consecutive years of operating losses.
The Milton Keynes-based business employed more than 50 staff and specialised in structural steelwork, architectural metalwork and balcony packages from its 100,000 sq ft fabrication facility on a 12-acre site.
The firm traced its roots back more than 30 years, supplying steel-framed buildings before expanding into major commercial, regeneration and residential projects, delivering structural steel packages of up to 500 tonnes and complex architectural façades across London.
Latest accounts for the year to 31 March 2025 revealed turnover fell 28% from £13m to £9m as the company continued its strategy of reducing reliance on London’s residential market.
Operating losses widened sharply to £1.13m from £142,000 a year earlier, marking the fourth successive year in the red following trading losses of £310,000 in 2023 and £1.8m in 2022.
Directors said the expected reduction in residential work was compounded by programme delays, leaving the business with surplus manufacturing capacity that could not be recovered through higher workloads.
The company was also hit by the collapse of ISG, forcing it to write down retentions held on historic projects and pushing the business deeper into the red.
Steelwork contractor Barretts of Aspley has ceased trading after four consecutive years of operating losses.
The Milton Keynes-based business employed more than 50 staff and specialised in structural steelwork, architectural metalwork and balcony packages from its 100,000 sq ft fabrication facility on a 12-acre site.
The firm traced its roots back more than 30 years, supplying steel-framed buildings before expanding into major commercial, regeneration and residential projects, delivering structural steel packages of up to 500 tonnes and complex architectural façades across London.
Latest accounts for the year to 31 March 2025 revealed turnover fell 28% from £13m to £9m as the company continued its strategy of reducing reliance on London’s residential market.
Operating losses widened sharply to £1.13m from £142,000 a year earlier, marking the fourth successive year in the red following trading losses of £310,000 in 2023 and £1.8m in 2022.
Directors said the expected reduction in residential work was compounded by programme delays, leaving the business with surplus manufacturing capacity that could not be recovered through higher workloads.
The company was also hit by the collapse of ISG, forcing it to write down retentions held on historic projects and pushing the business deeper into the red.
