The announcement follows the news that three construction firms have entered administration over the past four weeks. 

York-based William Anelay Ltd has now proposed a company voluntary arrangement (CVA) with creditors to allow it to keep trading.

Charles Anelay, chairman of William Anelay, said: “While only a few projects outside our usual sphere have been involved, the values were significant and this has harmed our business performance and cash flow.

“They are now finished, save one, where completion is imminent and another, which has been brought under control, but unfortunately we are now unable to pay suppliers.

“We appreciate that the need for a CVA will be a great disappointment to sub-contractors and suppliers who have supported us for many years, but this is the best way to make a maximum and prompt return to creditors and we are totally committed to making it a success.”

The CVA would require William Anelay to pay creditors a certain agreed percentage in the pound to stay in business and avoid losing traditional craft skills.

William Anelay stated that its bankers supported the proposition, and the CVA will become binding on all those involved if creditors representing more than 75% of the outstanding debt agree. 

William Anelay currently has 190 staff across a number of associated business, including Lowery Roofing, Anelay Traditional Masonry and Anelay Building and Conservation.

The £38m-turnover firm currently has 17 schemes on site, secured a workload of £33m and has £9m worth of projects under consideration in the current financial year.

William Anelay also has an additional £12m of work already secured for 2017-18.

Charles added: “We have a fresh approach, have returned to our core operations and have a strong order book for the next 12 months and beyond.

“With our bank’s support and a successful completion of the proposed debt restructuring, we aim to continue in our current form and are committed to completing schemes under contract.”

Founded in 1747, William Anelay was previously featured on the BBC’s ‘Hairy Builders’ with one half of the celebrity chef duo ‘The Hairy Bikers’. 

The firm specialises in traditional building skills, including stone masonry, brick working and hard metal roofing.