Challenging market conditions have forced the business to restructure at the expense of its Slater & Crabtree and Joseph Rhodes operations.
The remaining divisions of Rhodes Interform, Craven Fawcett, Beauford Engineers, Rhodes Environmental and Hallamshire Engineering are unaffected and it will remain business as usual for the approximately 80 members of staff who are left behind.
Mark Ridgway, managing director, told The Yorkshire Post that these two divisions “had very difficult contracts” which ultimately fund holders had withdraw support from.
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“We did the best we could,” said Mr Ridgeway.
“Fund holders did not want to support a contract we had in Pakistan.
“It was becoming a challenging project and because of that we have needed to restructure.
“We had to move very quickly and protect the key skills in the ongoing business.”