Construction Industry Administrations | Construction News https://www.constructionnews.co.uk Read UK Construction Industry News, Analysis, Opinion and data Tue, 05 Nov 2024 13:09:53 +0000 en-GB hourly 1 https://wordpress.org/?v=6.0 https://emap-romulus-prod.s3.eu-west-1.amazonaws.com/wp-content/uploads/sites/8/2023/07/favicon-cn192-70x70.png Construction Industry Administrations | Construction News https://www.constructionnews.co.uk 32 32 https://www.constructionnews.co.uk/wp-content/themes/mbm-mops-2017/images/logo.gif Construction News https://www.constructionnews.co.uk 125 75 Read UK Construction Industry News, Analysis, Opinion and data North East facade firm went under with zero net cash https://www.constructionnews.co.uk/financial/administrations/north-east-facade-firm-went-under-with-zero-net-cash-05-11-2024/ https://www.constructionnews.co.uk/financial/administrations/north-east-facade-firm-went-under-with-zero-net-cash-05-11-2024/#respond Tue, 05 Nov 2024 12:45:22 +0000 https://www.constructionnews.co.uk/?p=508945 A glazing and aluminium facade specialist had no net cash when administrators were appointed six months ago. Architectural Glass and Aluminium Ltd (ARGLA), which went under in April, held cash in the bank. But it owed a Coronavirus Bounce Back loan, which cancelled out its…

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]]> https://www.constructionnews.co.uk/financial/administrations/north-east-facade-firm-went-under-with-zero-net-cash-05-11-2024/feed/ 0 Audit body flags construction sector risk-check weaknesses https://www.constructionnews.co.uk/financial/audit-body-flags-construction-sector-risk-check-weaknesses-04-11-2024/ https://www.constructionnews.co.uk/financial/audit-body-flags-construction-sector-risk-check-weaknesses-04-11-2024/#respond Mon, 04 Nov 2024 12:53:59 +0000 https://www.constructionnews.co.uk/?p=508884 Nine major construction firms could be missing crucial internal audit functions that are key to identifying financial risks to firms and the industry itself, a leading auditing body has said. Of the top 30 firms in the UK construction sector, nine “may be operating without…

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]]> https://www.constructionnews.co.uk/financial/audit-body-flags-construction-sector-risk-check-weaknesses-04-11-2024/feed/ 0 Fit out arm adds £111m to ISG supply chain debt https://www.constructionnews.co.uk/contractors/isg/isg-supply-chain-hit-tops-300m-28-10-2024/ https://www.constructionnews.co.uk/contractors/isg/isg-supply-chain-hit-tops-300m-28-10-2024/#respond Mon, 28 Oct 2024 12:42:43 +0000 https://www.constructionnews.co.uk/?p=508458 Administrators have estimated ISG's fit out business owes £111.4m to the supply chain, bringing the total across the firm to more than £301m. Companies House today (28 October) published a statement of affairs relating to ISG Fit Out Ltd – the final of the six…

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]]> https://www.constructionnews.co.uk/contractors/isg/isg-supply-chain-hit-tops-300m-28-10-2024/feed/ 0 ISG subcontractor files for administration https://www.constructionnews.co.uk/financial/administrations/lighting-subcontractor-goes-under-administrators-blame-isg-collapse-25-10-2024/ https://www.constructionnews.co.uk/financial/administrations/lighting-subcontractor-goes-under-administrators-blame-isg-collapse-25-10-2024/#respond Fri, 25 Oct 2024 12:11:14 +0000 https://www.constructionnews.co.uk/?p=508398 An ISG lighting subcontractor has gone under, with administrators blaming the collapse of the main contractor. Seventynine Lighting appointed Mark Boughey and Rebecca Dacre of Forvis Mazars as joint administrators on 14 October. A statement from Forvis Mazars on Friday (25 October) said that 30…

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]]> https://www.constructionnews.co.uk/financial/administrations/lighting-subcontractor-goes-under-administrators-blame-isg-collapse-25-10-2024/feed/ 0 74-year-old M&E specialist calls in administrators https://www.constructionnews.co.uk/financial/administrations/74-year-old-me-specialist-calls-in-administrators-24-10-2024/ https://www.constructionnews.co.uk/financial/administrations/74-year-old-me-specialist-calls-in-administrators-24-10-2024/#respond Thu, 24 Oct 2024 12:04:58 +0000 https://www.constructionnews.co.uk/?p=508323 A family-run mechanical and electrical (M&E) specialist has appointed administrators after reporting losses for two years running. HBS Southern, founded in 1950, appointed administrators from RSM UK last week (16 October), according to the official record. HBS Southern was run by founder Harry Bull’s son…

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]]> https://www.constructionnews.co.uk/financial/administrations/74-year-old-me-specialist-calls-in-administrators-24-10-2024/feed/ 0 Cladding firm sent under by 11-year-old defects claim https://www.constructionnews.co.uk/financial/administrations/cladding-firm-sent-under-by-11-year-old-defects-claim-23-10-2024/ https://www.constructionnews.co.uk/financial/administrations/cladding-firm-sent-under-by-11-year-old-defects-claim-23-10-2024/#respond Wed, 23 Oct 2024 11:50:07 +0000 https://www.constructionnews.co.uk/?p=508255 A 143-year-old cladding firm was toppled by a multimillion pound bill for allegedly defective work done 11 years previously, its administrator has said. M Price Group, which filed for administration in August, struggled with Covid and inflation before a £7.8m claim from Barratt Homes sent…

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]]> https://www.constructionnews.co.uk/financial/administrations/cladding-firm-sent-under-by-11-year-old-defects-claim-23-10-2024/feed/ 0 ISG: replacement contractor named on leisure centre https://www.constructionnews.co.uk/buildings/isg-replacement-contractor-named-on-leisure-centre-23-10-2024/ https://www.constructionnews.co.uk/buildings/isg-replacement-contractor-named-on-leisure-centre-23-10-2024/#respond Wed, 23 Oct 2024 07:38:18 +0000 https://www.constructionnews.co.uk/?p=508214 A replacement has been named on a part-completed leisure centre where ISG had been main contractor. North East Derbyshire Council announced this week that its development partner Alliance Leisure had appointed Nottingham-headquartered Universal Civils & Build to finish the Clay Cross Active scheme in Chesterfield.…

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]]> https://www.constructionnews.co.uk/buildings/isg-replacement-contractor-named-on-leisure-centre-23-10-2024/feed/ 0 ISG: Former employees owed more than £70m https://www.constructionnews.co.uk/contractors/isg/isg-former-employees-owed-more-than-70m-21-10-2024/ https://www.constructionnews.co.uk/contractors/isg/isg-former-employees-owed-more-than-70m-21-10-2024/#respond Mon, 21 Oct 2024 12:07:42 +0000 https://www.constructionnews.co.uk/?p=508086 'Former employees' of ISG are owed at least £72.3m by the collapsed contractor, administrators for the collapsed firm have calculated. Statements of affairs for seven of the eight ISG subsidiaries that entered administration in September were published on Companies House this weekend. They also show…

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]]> https://www.constructionnews.co.uk/contractors/isg/isg-former-employees-owed-more-than-70m-21-10-2024/feed/ 0 Latest official data reveals stubbornly high insolvencies https://www.constructionnews.co.uk/financial/administrations/latest-official-data-reveals-stubbornly-high-insolvencies-18-10-2024/ https://www.constructionnews.co.uk/financial/administrations/latest-official-data-reveals-stubbornly-high-insolvencies-18-10-2024/#respond Fri, 18 Oct 2024 11:15:52 +0000 https://www.constructionnews.co.uk/?p=507948 Construction remains the worst-affected industry for insolvencies, according to the latest official monthly figures. Data released today (18 October) by the Insolvency Service revealed the construction industry continues to see the biggest number of administrations and liquidations by sector, with 4,310 firms collapsing in the…

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]]> https://www.constructionnews.co.uk/financial/administrations/latest-official-data-reveals-stubbornly-high-insolvencies-18-10-2024/feed/ 0 Administrators halt debt pursuit in collapsed contractor case https://www.constructionnews.co.uk/financial/administrations/administrators-halt-debt-pursuit-in-collapsed-contractor-case-16-10-2024/ https://www.constructionnews.co.uk/financial/administrations/administrators-halt-debt-pursuit-in-collapsed-contractor-case-16-10-2024/#respond Wed, 16 Oct 2024 11:45:51 +0000 https://www.constructionnews.co.uk/?p=507859 Administrators of a £68m-turnover collapsed fit-out specialist have suspended their collection of outstanding debts following months of painstaking work. Following “several months of pursuing the remaining debts with no significant developments”, administrators for fit-out specialist Twenty 1 Construction have decided to suspend that work after…

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