Administrations

NMCN has been replaced on a job to develop luxury flats in Nottingham – days after the contractor fell into administration. Developer Trent Bridge Quays, which is a subsidiary of Elevate Property Group, appointed Leicester-based Bode Contracting to deliver its luxury apartment and townhouse developmen in the south of Nottingham,…

NMCN plc has collapsed into administration after failing to sign off its 2020 accounts and secure a re-financing of the business. The utilities-focused outfit confirmed on Monday lunchtime that it had filed notice of its intention to appoint Grant Thornton as administrator of the £400m-turnover business. NMCN has unveiled a…

Cleveland Bridge collapsed with debts of more than £21m, the administrators’ proposals have revealed. Unsecured trade creditors, which are primarily subcontractors and other suppliers, are owed £8m. FRP said they are unlikely to receive any money from the administration. Primary preferential creditors are owed £401,000, which includes arrears of pay,…

Welsh contractor WRW collapsed owing a range of creditors £29.4m, its administrators have revealed. Unsecured creditors, the vast majority of which were subcontractors and other construction suppliers, were owed around £18.7m by the firm, which collapsed into administration in early July. The administrators expect unsecured creditors to receive nothing aside…

The founder of Dunne Group has been charged in connection with alleged “financial irregularities” at another company he was linked to. Gordon Dunne and his wife Johanna Dunne were charged last week in relation to the company DWS, Building and Civil Engineering, according to Scottish newspaper the Daily Record. The…

Administrators have failed to find a buyer for Cleveland Bridge, marking a likely end for the 144-year-old specialist. After weeks of speaking to potential buyers from around the world, administrators have failed to receive a firm offer to buy the company. As a result, they have prepared to shut down…

Seventeen construction firms fell into administration in August – the highest level seen in 2021. It was higher than the 13 firms that collapsed in July and topped the previous high this year in March when 16 firms went into administration. The data has been collected by Creditsafe. The number…

Somerset-based Henry W Pollard, which collapsed in June after 161 years of trading, had debts of £10m when it collapsed. Unsecured trade creditors were owed £3.2m by the contractor, according to a statement of affairs produced by the directors. The firm, which reported revenue of £24.1m in its most recent…

North West M&E specialist Genlec Electrical Contractors Limited has entered administration. The 22-year-old business formally appointed joint administrators from FRP Advisory on 26 August, having first filed for administration just over a week previously. A statement from the joint administrators said that financial challenges had left the business unable to…

Glazing and cladding specialist Prism Architectural has appointed liquidators after ceasing to trade last month. A statement of affairs filed with Companies House showed the Cambridge-registered firm had a deficiency of £4.46m. The company owed trade and expense creditors £3.8m, HMRC £200,068, subcontractor PAYE costs £195,115 and employees £162,555. The…