Rising material prices are the last straw for failed contractors

The company, whose roots go back to 1899, was placed in the hands of joint administrators Conrad Beighton and David Griffiths of Leonard Curtis Business Rescue & Recovery last Friday.

At the time of the appointment, 44 employees were laid off and Leonard Curtis is now taking steps to ensure the orderly winding-up of the company and maximum recovery in favor of the creditors.

The administrators said, “The company had encountered ongoing, ongoing difficulties due to the ongoing pandemic and Brexit-related issues in the construction industry.

“The current volatility in the availability and prices of building materials made the conclusion of existing orders on site and any new orders in the near future unprofitable and therefore unprofitable.

“In addition, the ongoing risks of COVID have further complicated matters and resulted in delays in completing projects.”

The company’s most recent balance sheets for the year ended March 31, 2020 show the company had a pre-tax profit of £ 244,000 on sales of £ 30million.

Grant beforehand

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