Dozens of jobs are teetering on the edge of redundancy after one of Canterbury’s oldest building firms went bust.

Administrators have been called in by contractor Coombs to handle its affairs – almost 50 years after it was founded.

Phone lines at the company’s Wincheap headquarters have been down since the insolvency specialists from Brighton-based White Maund took over the reins towards the end of last month.

The futures of an estimated 66 members of staff have been plunged into uncertainty following the announcement, prompting fears its demise could trigger further job losses locally.

A spokesman for White Maund said: “Over the course of the last year the trading position of the company deteriorated, [and the] situation was exacerbated by the pandemic.

“The directors had been seeking investment to enable the company to continue trading, but it was not until the end of October that the investors confirmed they would not proceed.

“The directors then took specialist advice and were advised that the company should cease trading and be placed in administration.”

The housebuilder’s latest accounts show its profits dwindled between 2017 and 2018, from almost £110,000 to just below £58,000.

Its most recent figures also show that it paid 32 administrative staff and 34 production workers a combined £2.4 million across the same financial year.

Developer Mark Quinn told the Gazette: “It’s a real shame. It’s not surprising as I’d imagine they’ve probably had a number of schemes put on hold by the pandemic.

“They will have had payments delayed to them as a result, and you only need to have that happen a couple of times for things not to add up.

“That’s a multi-million-pound company, and that money will no longer be going into the supply chain, so there will be less work for people.

“This could cause more companies to go to the wall. It’s a sad reflection of the times we’re heading into.”

Mr Quinn says industry insiders are predicting greater financial difficulties for housebuilders next year.

And without the city-based business, he believes fewer homes will be constructed across the county.

“They’re one of the oldest building companies in Kent,” he added.

“With Coombs gone, I don’t think there are enough companies left, as it leaves only two or three locally that are big enough to build a school or lots and lots of homes.

“In terms of housing delivery, I think there will be fewer built.”

Before the business folded, Coombs had been working on three projects in conjunction with local authorities and housing associations.

Among them is Canterbury City Council’s 16-home Kingsmead Field scheme – which has stalled since Coombs collapsed.

Authority spokesman Leo Whitlock said: “Work has stopped on the Kingsmead Field site and the keys have been handed back to the council.

“Coombs was being paid in installments based on work that has already been completed.

“That means the council has not paid for anything that hasn’t already been built and has not lost any money.

“We are working as quickly as possible on the best way to put the contract back out to tender in order to minimise delays to the project.”

The company’s contract with Thanet District Council to build nine affordable rent homes in Ramsgate has also been terminated.

A spokesman for the authority is searching for a new firm to complete the final stages of the work.

In 2009, Coombs was responsible for the redevelopment of Margate attraction Dreamland, while in the same year it also completed Canterbury Christ Church University’s North Holmes Road campus.

The company was formed in 1971 by bricklayer Rodney Coombs, who started out as virtually a one-man band, save for the help of wife Pat.

Before Rodney’s death in 1979, the couple transformed the business into one of the city’s most reputable building contractors, employing as many as 70 people.

Coombs managing director John Healey was asked to comment but had not responded.

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