Dozens of jobs lost as Porthmadog cabin builders fold
More than 50 jobs have been lost after a company that built luxury holiday cabins went into liquidation.
Cambrian and Sovereign Holding Group Ltd, owners of Cambrian Leisure Homes, was based in Coventry but built its cabins in Porthmadog, Gwynedd. The BBC understands that at least 20 employees in north Wales lost their jobs before the holding company folded on 9 November. Liquidators FRP Advisory LLP blamed it on "challenging trading conditions". Sovereign Park and Leisure Homes Ltd was incorporated in 2012 and built park and leisure homes for domestic and commercial clients. Cambrian and Sovereign Holding Group acquired the business and its assets after it went into administration in March last year. Joint liquidator John Lowe said "high overheads, unprofitable inherited contracts and HMRC delays" had forced the company to cease trading prior to entering liquidation. "Sovereign Park and Leisure Homes Limited and Cambrian and Sovereign Holding Group had faced extremely challenging trading conditions in an increasingly competitive market," he added. "This led to unsustainable cash flow difficulties, which have forced the companies to enter into liquidation." Mr Lowe said he was working with "all agencies" to ensure the 51 members of staff who have lost their job are supported. One of the town's county councillors, Selwyn Griffiths, described the closure as a "huge blow for the area".