Tolent plc – administration

Tolent plc, a large Gateshead-based contractor, entered administration on 13 February. Joint Administrators James Lumb and Howard Smith of Interpath Advisory cited heavy losses incurred from the company’s biggest project to date, the £85.5m Milburngate development in Durham, as one of the primary drivers behind the company’s administration. 313 workers have been made redundant, while around 90 workers have been retained to assist the Joint Administrators. Igf Business Credit Limited has a registered charge against the company.