THE parent company of a Stoke-on-Trent property maintenance firm is intending to call in the administrators.

Burslem-based Environ Group, which owns property maintenance business BGC, has filed a court notice of intention to appoint an administrator.

Environ's chief executive Mark Sims last year supported entrepreneur Mo Chaudry's takeover bid for Port Vale Football Club.

In an announcement on the Alternative Investment Market (AIM), Environ said: "The board has been reviewing its options in order to minimise the financial uncertainty surrounding the company.

"As such the board has filed a notice of intention to appoint administrators of the company to assist the directors in this regard and to protect the interests of creditors. Further announcements will be made in due course."

Previous announcements on AIM reveal the board has asked for Environ's shares to be suspended "pending clarification of its financial position".

It had been planning to hold a general meeting to discuss the sale of 51 per cent of its shares in Burslem-based BGC to Mr Sims – for just £1.

That meeting, which was due to take place at the end of January, has now been moved to this Wednesday.

BGC employs around 100 people at its Furlong Parade base.

According to a notice filed on January 9, Environ was planning to dispose of more than half of its shares in BGC as well as another subsidiary, Fenhams in Newcastle-upon-Tyne.

It states: "The group's credit terms are being contracted in the current challenging economic environment.

"The majority of the board feel that by unwinding the group structure, individual subsidiaries, negotiating their own credit terms, will fare better than they would have done as part of the group."

It adds: "The company today entered into the BGC sale and purchase agreement for the sale of 51 per cent of the issued share capital of BGC to BGC Group (UK) for a consideration of £1, subject to shareholder approval and any necessary banking consents."

During the seven months to October 21, BGC generated sales of £4 million and pre-tax losses of £30,000. Previously, for the year to March 31, BGC posted sales of £9.1 million and pre-tax profits of £363,000.

Environ first announced plans to delist from AIM and dispose of 51 per cent of its shares to BGC in December, when it announced its half-year results.

For the six months to September 30, Environ posted sales of £8.2 million and a pre-tax loss of £248,000

For the previous full year (to March 31 2011) sales were £19.5 million and pre-tax profit £461,000.

As well as BGC and Fenhams, Environ also owns IPCL in Tyne and Wear.

Chairman Nigel Wray said in the half-year results statement: "After some months of steady if small profitability, we remarked at the annual meeting that the year had gone satisfactorily. However, since then the trading difficulties of a large customer, a dramatic change in Government legislation and continual pressure on margins have pushed the group back into losses. As a result, the group will need to considerably revise strategy and plans."

He added: "In the current difficult climate, the board feels that the group's credit conditions have been restrictive and companies under separate ownership would fare better.

"Consequently the board is proposing to dispose of a 51 per cent interest in BGC Limited to its management.

"In our opinion, all three businesses are involved in areas of the economy where there is a considerable long term future."

Mr Sims declined to comment.