Administrations

Caddick Construction has bought the assets and intellectual property rights of collapsed façade specialist Speedclad. Yorkshire-based Speedclad filed for administration in August, with 44 staff made redundant. James Lumb and Howard Smith, from Interpath Advisory, were appointed as joint administrators, with eight staff kept on for administrative duties, as buyers…

Close to 17,000 construction-related businesses are at “significant risk” of insolvency, research suggests. Spiralling construction costs coupled with high inflation and rising interest rates on debt have contributed to a 54 per cent hike in the number of firms that are financially stressed, data from tax advisory firm Mazars has…

A Southampton construction boss has been banned from being a company director for seven years. Marian Daniel Clipici, sole director of Dahlial, failed to keep adequate accounts while his business was trading between 2017 and 2021 and was unable to explain the use of a pandemic Bounce Back loan. Clipici’s…

Avonside owed more than £17m to unsecured creditors before it collapsed earlier this month, a new report reveals. The firm had struggled with the impact of COVID-19, which was accentuated by a “margin squeeze, the impact of underperforming divisions and financial reporting issues”, as initially noted by its administrators, Begbies…

East Midlands-based firm Robert Woodhead is set to be placed into voluntary liquidation, with most staff being made redundant. RSM UK Restructuring Advisory was called in last week as management at the firm, located in Edwinstowe, Nottinghamshire, began the process of shutting it down. The pressure of fixed-price contracts in…

An employment tribunal has ruled against a collapsed contractor and said its workers should receive compensation over a breach of employment law following their dismissal. Central Building Contractors (CBC) was a Glasgow-based firm that went into administration in April 2020, after it crumbled under cashflow problems amplified by the coronavirus…

Insolvencies could intensify over the next six months amid price inflation and slowing demand, construction leaders have warned.Shortages of key products including bricks and semiconductors are also likely to put strain on the industry, according to John Newcomb, CEO of the Builders Merchants Federation, and Peter Caplehorn, CEO of the…

A London-based luxury property contractor has filed for administration. Cheevers Poole specialised in residential properties in West London, particularly Chelsea, Belgravia, and Kensington, as well as carrying out some work in South Africa. It described its construction business as one for the "super prime property sector". The Chelsea-headquartered company has…

Creditors of collapsed contractor Henry W Pollard are seeking more than £15m from the company, including a £5m pension deficit which may be probed over alleged "misrepresentations". Administrators of the Somerset-based firm, which went under in June 2021 after 161 years of trading, said in an update posted to Companies…

The insulation and solar power arm of the UK's largest roofing specialist, which entered administration last week, has been acquired by a private investor – saving all 100 jobs in the division. Avonside Energy was one of the 39 divisions which fell into administration last week when the wider Avonside…