THE future of more than 150 jobs at an Andover-based construction firm are up in the air, amid rumours of a financial crisis.

Eighteen months ago it was named in a list of “the 1,000 companies to inspire Britain”, but now staff at cladding and facade specialists LSC Group, which has its head office in Romsey and a factory at Andover, have not been paid this month following an emergency meeting, the Advertiser understands.

Suppliers have also been unable to contact the firm which is not answering phone calls.

Our reporter visited the LSC offices at Romsey’s Abbey Park Industrial Estate where there was only one car in the car park and a few staff were present inside the darkened premises.

No one from management was available to comment and the Advertiser was told that managing director Dorian Lawrence would be back next week.

However, an employee of the nearby Cedar Group Ltd, who didn’t want to be named, said he understood that the firm “went bust on Friday”.

He said: “There were no cars there on Friday afternoon. Usually it’s heaving with cars, with cars parked around the corner.

“Everybody came back yesterday. I’m guessing that they were not paid. It’s not so good for the people involved.”

A member of staff at Lilly’s Cafe in the nearby Basepoint, who also didn’t want to be named, said she had spoken with stunned LSC staff on Tuesday and Friday.

She said: “They were called in at short notice. “They were told to clear their desks. They were told that there was going to be a meeting yesterday.

“They were flabbergasted.”

At the firm’s manufacturing facility on Andover’s Walworth Industrial Estate our reporter found the gates locked and the site deserted.

She spoke to neighbouring businesses and it is understood that LSC owed money to a number of local companies.

The Advertiser was told that employees went to the factory to pick up their belongings on Tuesday.

It is believed that LSC, which had a turnover of £18m in 2014, hit the buffers when its main bank withdrew its support. LSC’s sudden plunge in fortunes has come as a surprise to many.

The Advertiser spoke to a supplier who said: “They seemed to have a full schedule for work.

“Everything was rosy – this has come as a massive shock.”

LSC is presently working on several high-profile projects around the country including Kier’s £38m contract to build Plymouth’s tallest building – a 22-storey student accommodation scheme.

It also has contracts to work on a £25m leisure centre project in Romford and the Capital Quarter student accommodation project in Cardiff City Centre.

Locally their work can be seen at the award-winning Mary Rose Museum at Portsmouth’s Historic Dockyard, the Hilton Hotel at The Ageas Bowl, Southampton’s new arts complex and Mayflower student halls in West Park Road, Southampton.

In March 2015, The London Stock Exchange in association with Lloyds Bank had identified 1,000 small and medium-sized companies to ‘Inspire Britain’ and LSC, which also has premises in Wales and London, was identified in the survey.

In November the Advertiser reported that LSC was expanding and planning to create up to 20 new positions across all areas of the business.

The firm held a launch event at Southampton’s Harbour Lights Cinema where an upbeat presentation on the future of the business was screened for the entire workforce and staff posed for a group picture with a banner proclaiming “Built Around You”.

At the time group managing director Dorian Lawrence commented: “We’re winning larger, more prestigious and more challenging projects and our business is growing all the time.

“We’re looking ahead to the next few years and the opportunities the future promises to bring.”

Are you affected by the news? Do you work for the firm or do business with them? Call 01264 321 204 or email newsdesk@ andoveradvertiser.co.uk