A North Yorkshire company has ceased trading owing more than £4.5milllion to suppliers and contractors.

The debts of SH Structures of Sherburn in Elmet are reviewed in documents submitted to Companies House, following it going into receivership in April.

The updates say the debts included almost £1million to its employees and just over £370,000 to HMRC.

Around 100 trade creditors and suppliers were also owed just over £4.5million in total.

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SH Structures began in September 1992 and operated from Moore Lane Trading Estate.

It designed, made and installed complex steel structures, employing around 70 staff, all of whom were made redundant.

A report published by the administrators said the company would undertake projects across the UK, with a value of up to £5 million.

Trade would regularly exceed £9m, with £10m achieved in 2023, it said.

“Despite this, the company suffered in terms of cash flow for various reasons over the past 12 months. This has been caused by the severe deterioration of several key projects, losses and cost overruns on ongoing jobs and an anticipated drop off in work for April 2024.”

The Begbies Traynor Group were instructed to find a buyer of the business, through an accelerated merger and acquisition process. A Notice of Intent to move into administration was then made to help allow this and protect it from any action by creditors, the report explained.

A targeted marketing exercise began and despite firms showing interest, none made an offer, leading the directors with no option but to place the company into administration on April 4.

The report said some preferential creditors are likely to receive a distribution from the sale of assets, but unsecured creditors were unlikely to receive any distribution.

A highlight of the company's history was company completing in 2013 the 100-feet high 300 tonne horse head sculptures, The Kelpies, which are located in Falkirk, Scotland.

The £5 million cultural landmark, which took five years to build, paid homage to the working horses of Scotland.

More recently, the company hosted a visit from the recently-elected Selby & Ainsty MP Keir Mather, which included the company and steel industry figures raising a range of concerns affecting the sector.