The Enquirer revealed this week that staff at the Ampthill based contractor had already started looking for new jobs.
The news has sent shockwaves through the flooring sector.
One rival boss wrote: “Rates paid by builders really do need to increase and the flooring manufacturers need to start backing the flooring trade and stop harming us the specialist subcontractors who actually employ floor layers.”
Another added: “It’s time for the industry to change – projects are being won with with small profit margins to make you competitive with no allowance for risk or programme issues and it is suicidal for the future of what we all do for a living
“This effects all trades. Clients have had the rub of the green for too many years and more money must be in the pot for firms to survive. Things must change.”
Axiom has been in business since 1979 and has been led by Group Managing Director Nick Edwards since a management buyout in 2008.
Latest accounts filed at Companies House show Axiom had a turnover of £17.8m for the year to November 30 2022 generating a pre-tax profit of £781,177 while employing 44 staff.
Data and credit checking specialist Red Flag Alert highlighted the firms’ administration notice with its regular checks of high court construction insolvency applications.
Subscribers to the Red Flag Alert service benefit from early warnings about the financial health of companies to help them avoid bad debts.
The Enquirer has linked-up with Red Flag Alert to offer readers a discount on its services and help you avoid worthless invoices from insolvent companies.
For more information and to benefit from the Enquirer discount click here.