The decision was reached after an 18-month programme to restructure the firm to focus on the core construction business and following an extensive effort to secure new investment into the business.

The company with its advisors are currently working with interested parties with the ambition that aspects of the business will be sold and will continue to trade. 

To support this process, all staff will be paid up to the date the administrators are appointed.

Geoffrey Osborne has faced significant headwinds common to the entire construction over the past two years, fuelled by high inflation, the lingering impacts of COVID-19 and Brexit, and a slowdown in public sector procurement.

Despite these challenges, Geoffrey Osborne has maintained strong relationships with suppliers, contractors and staff, while delivering for customers.

However, the residual losses on legacy projects have undermined performance which has impacted on the ability to win new work.

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The management team were attempting to ensure the current business is profitable with a good pipeline of work, but the business has struggled to secure the necessary investment to continue as a going concern.

Andrew Osborne, chairman at Geoffrey Osborne, said: “Everyone in the construction industry knows the challenges of the past few years and Geoffrey Osborne has worked hard to continue to deliver projects.

“Our management team has done everything possible to look after our people and protect suppliers, while seeking to trade through the economic headwinds.

“While today’s decision to move towards administration is a last resort, it is now the right thing to do while we continue to seek external investment.”

Update: 22nd April, 11:52am

Following from Geoffrey Osborne's announcement on Friday 19th April, the company has also filed notices of intention to appoint administrators to three divisions of the group.

These are Osborne Construction Ltd, Osborne Group Holdings and Osborne Homes Ltd.