EXETER building firm Beale & Cole has gone into administration with the loss of an estimated 100 city jobs.

The company is understood to have had plenty of work but major cashflow problems.

The family-owned business, established in 1967, is based in Silverton Road on Marsh Barton.

One worker said last night: "We all got a call this morning to be back at the base for 2.30pm.

"We were called into a meeting.

"We were told by the administrators and the boss that they were selling off the servicing side but could not find a buyer for the contracting side of the business so we were all out.

"That's probably about 100 people here, and 300 in total including the offices in Plymouth and Yeovil.

"It seems there was plenty of work on the order books but people were just not paying up and with bills not being paid they couldn't cover their costs."

The 21-year-old worker, who asked not to be named, said he was fortunate in that he lived at home and had just finished a two-year electrician's apprenticeship.

"I suppose I am lucky I just did my last exams last week, but there are guys who have been here 30 or even 40 years. They are really upset and don't know what to do."

Beale & Co employ in the region of 200 site-based engineers together with a full management and administrative team.

The company carries out a range of projects from minor works and maintenance through to major contracts in the region of £3 million in value.

Last night the company said it was too early to comment on the issue.