THE rising cost of fuel and the recession has been blamed for the collapse of a well-established business.
Graham Moyse, who owns Graham Moyse Contractors in Fareham, has been forced to lay off 56 staff and call in the administrators, as he could not afford to keep his business going.
It means local authorities and the Ministry of Defence will have to look elsewhere to hire civil engineers for construction, demolition, utilities and hard paving.
Mr Moyse said: ‘I’ve had no alternative but to shut down the business.
‘The cost of fuel has risen to £1,000 a day when budgets and margins are being squeezed.
‘This spiralling cost of fuel affects all businesses like ours because we have no control over it.
‘When I laid off my staff it was extremely sad – one of the most emotional days of my 30-year working life.
‘This has been forced upon us.
‘Despite every effort, including personal funding, we have failed to keep the business afloat.’
Graham, who started the business when he was 19, can at least celebrate the fact that he has had 28 years of running a successful company.
Moyse Contractors has worked on projects such as the giant sundial at Gosport, the demolition of buildings at Knowle hospital and with the Ministry of Defence.
And in 2009 the future looked bright for the company, as it won the contract to regenerate and prepare the dockside at Portsmouth International Port as part of its £16.5m upgrade.
The work saw extra finance from NatWest, almost unheard of at the time, and an increase in the firm’s headcount.
But now Graham has instructed David Smithson, of BDO LLP, to place the company into administration.
The administrators will assist in finishing remaining contracts before the company is wound up later this month.
After that, Graham hopes to take a role in sustainable development projects in the area.