Construction Industry Administrations | Construction News

Rye Demolition enters administration

Charlotte Banks — Thu, 29 Feb 2024 09:13:57 +0000

Rye Demolition has gone into administration, having been hit by two winding up orders. The Aylesbury-based demolition specialist, which has worked with housebuilders such as Barratt Homes, Taylor Wimpey and Berkeley Group, appointed administrators from Voscap today (28 February). Construction labour agency Lonsite and formwork…

The post Rye Demolition enters administration appeared first on Construction News.

Stewart Milne supply chain owed £153.8m

Charlotte Banks — Fri, 23 Feb 2024 12:50:14 +0000

Stewart Milne’s supply-chain creditors are set to lose almost all of the £153.8m they are owed, according to administrators. So far, 1,375 unsecured creditors have come forward, although administrators from Teneo expect the number to increase. Any payout is expected to be less than a…

The post Stewart Milne supply chain owed £153.8m appeared first on Construction News.

Britishvolt administrators look for new buyer after deal stalls

Ian Weinfass — Fri, 23 Feb 2024 12:32:21 +0000

Administrators for Britishvolt are speaking to new potential buyers after the company that struck a deal to buy it one year ago failed to pay what it owes. Britishvolt, which planned to build a £3.8bn vehicle-battery plant in Cambois, near Blyth, Northumberland, went into administration…

The post Britishvolt administrators look for new buyer after deal stalls appeared first on Construction News.

Jobs saved as Welsh firm exits administration

Ben Vogel — Mon, 19 Feb 2024 10:32:48 +0000

A timber and building materials supplier in Wales has been successfully sold out of administration. Gwent-based TG Howell & Sons Ltd entered administration earlier this month, with Katrina Orum and Huw Powell of Begbies Traynor appointed as joint administrators on 5 February. They oversaw a…

The post Jobs saved as Welsh firm exits administration appeared first on Construction News.

Scottish homebuilder enters provisional liquidation

Ben Vogel — Mon, 12 Feb 2024 07:00:33 +0000

Homebuilder JS Crawford Contracts (Borders) Limited has gone into provisional liquidation, following a delay to completion of a development in Melrose in the Scottish Borders. Blair Nimmo and Alistair McAlinden from Interpath Advisory were appointed on 7 February to handle affairs at the business. JS…

The post Scottish homebuilder enters provisional liquidation appeared first on Construction News.

Readie Construction topples into administration

Ben Vogel — Wed, 07 Feb 2024 17:23:20 +0000

Administrators have officially been appointed for logistics and warehouse specialist Readie Construction Ltd. A notice on the company website states that it is in administration and has ceased trading with immediate effect, after Constantinos Pedhiou and Gary Shankland of Begbies Traynor were called in yesterday…

The post Readie Construction topples into administration appeared first on Construction News.

Homes England set to lose £64.5m on Ilke Homes

Ian Weinfass — Tue, 06 Feb 2024 09:53:45 +0000

Homes England may be in line to recover £4.3m from the collapsed Ilke Homes administrators have now said, leaving it with a loss of £64.5m. Private equity-backed offsite specialist Ilke went into administration in June, with a loss of more than 1,000 jobs. An initial…

The post Homes England set to lose £64.5m on Ilke Homes appeared first on Construction News.

Balfour chasing ‘outstanding sums’ as luxury-flat developer collapses

Greg Pitcher — Wed, 31 Jan 2024 07:00:04 +0000

Balfour Beatty has said it is still chasing “outstanding sums” relating to a £200m residential scheme in Mayfair after its former client entered administration. Last week Interpath Advisory directors Steve Absolom and David Pike were appointed as administrators of 60 Curzon Street Developments, a single-project,…

The post Balfour chasing ‘outstanding sums’ as luxury-flat developer collapses appeared first on Construction News.

Construction tops insolvency table with 4,371 collapses last year

Greg Pitcher — Tue, 30 Jan 2024 16:18:55 +0000

The construction industry saw more companies go bust than any other sector last year, with a record 4,371 building firms collapsing in England and Wales. New data published by the Insolvency Service shows that construction accounted for almost one in five business failures where a…

The post Construction tops insolvency table with 4,371 collapses last year appeared first on Construction News.

Unite wins tribunal ruling over Tolent

Will Ing — Fri, 26 Jan 2024 11:45:33 +0000

Tolent has lost a tribunal case after it failed to consult Unite before making hundreds of redundancies when it entered administration last year. Unite was a recognised trade union for skilled, unskilled and craft employees of Tolent, the £200m-turnover contractor based in Gateshead that collapsed…

The post Unite wins tribunal ruling over Tolent appeared first on Construction News.