Pricing pressure and a reduced spend from key clients has forced a Gloucester business to go into administration with the loss of 49 jobs.

Glevum Heating and Plumbing, who were based on Tuffley Park trading estate, were forced to call in the administrators on March 6 after suffering difficult trading conditions.

Chris Ratten and Jeremy Woodside of RSM Restructuring Advisory LLP were appointed as joint administrators by Glevum Heating's parent Company Cornhill Investment Partners on March 6.

In a statement, RSM Restructuring said: The decision to appoint administrators was made by the directors of the companies after suffering difficult trading conditions caused by pricing pressure, programme delays and reduced spending from its core contracted client base of social housing landlords.

"Despite the best efforts of the directors and administrators, it was not possible to find a buyer for the business as a going concern and the Company has ceased to trade with immediate effect.

"Regrettably 49 members of staff have been made redundant.

Christopher Ratten, partner at RSM Restructuring Advisory LLP and one of the joint administrators, said: 'Glevum has recently faced challenging trading conditions in a highly competitive and regulated market resulting in an unsustainable level of losses.

"We will be working alongside staff from Job Centre Plus to assist employees with their claims to the Redundancy Payments Service.

"Creditors, customers and other interested parties will be contacted in due course."

BREAKING NEWS: We wanted to deliver the business community some positive advice to help them through the ongoing Covid19 crisis, but as the situation is ever-changing, and in light of this afternoon's planned briefing from Prime Minister Boris Johnson and Chancellor Rishi Sunak we have decided to hold fire. However, expect one of our now daily breaking news bulletins immediately post their announcements rounding up the salient points. Good luck out there.