BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / Blackpool-based construction firm enters administration amid rising costs

Blackpool-based construction firm enters administration amid rising costs

Fri, 29 Oct 2021 | ADMINISTRATION

Blackpool-based construction firm enters administration amid rising costs

Blackpool-headquartered Create Construction has entered administration amid rising construction industry costs and the impact of COVID-19. The company, which was part of the Create Group and specialised in student accommodation, hotel and private rental projects, has appointed RSM Restructuring Advisory to act as administrator. Other companies in the Create Group are not affected.

The company had been experiencing rapid growth in recent years, with turnover growing from £33 million in 2017 to £92 million in 2020. In its most recent accounts, Create Construction reported post-tax profits of £483,177, with net assets valued at £2.42 million.

Joint administrator Chris Ratten said that RSM were working to reassign the company’s live projects, with the hope of transferring many of its onsite roles to other companies. The firm’s live projects include the construction of an Ibis hotel at Edinburgh airport, a new-build Hampton by Hilton hotel in Trafford, Greater Manchester and an extension to the chain's hotel in Blackpool, Lancashire.

Regarding the problems faced by the company, Chris Ratten said: “Create Construction Limited has recently encountered a number of issues that have led to significant cashflow pressures. The business has been adversely impacted by increasing costs of building supplies and subcontract labour.”

In a statement, Create Construction CEO Paul Mathison said: “The pandemic has severely affected both our clients and our supply chain’s ability to meet their contractual arrangements. An overrun in projects in both time and budget, a number of supply chain failures and delays to a secured pipeline of projects, has ultimately made the company unviable.”


Read more about pressures impacting the UK construction sector

View the latest distressed UK businesses here.


Share this article



Latest Businesses for Sale

E-commerce Supplier of Coffee Products
UK Wide

The company produces and supplies a wide range of coffee products created using ethically sourced beans from South America. The core products comprise wholebeans, grounds, single-origin roasts, blends, cold brews and compostable pods.

Asking Price: £300,000
Turnover: £200,000

LEASEHOLD


Mediterranean & English Cafe Restaurant
South East, UK

The business was first established by the owner in 2019, building up an excellent reputation during its time of trading. As seen by some online ratings and reviews, the business is extremely popular within the local area.

Asking Price: Offers Invited
Turnover: £390,000

LEASEHOLD


Manufacturer & Supplier of Day Surgery Tables
UK Wide

The company offers a variety of day surgery tables, all of which are manufactured with reliability, performance and manoeuvrability in mind. The family-run business supports all clients post-sale with planned preventative maintenance solutions, offer...

Asking Price: Offers Invited
Turnover: £400,000

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
03
 
Feb
 

Social media marketing firm acquired at up to 41.6x operating profit | BUSINESS SALE

Manchester-based social media and influencer marketing agenc...

 
03
 
Feb
 

Pub group planning to sell 1,000 sites as pressures on hospitality mount | COMMERCIAL PROPERTY

Stonegate Group, the UK’s largest pub company, is repo...

 
02
 
Feb
 

Babble hits 12 acquisitions in a year with double takeover | BUSINESS SALE

London-based cloud technology firm Babble has continued its ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
03
 
Feb
 

Pub group planning to sell 1,000 sites as pressures on hospitality mount | COMMERCIAL PROPERTY

Stonegate Group, the UK’s largest pub company, is repo...

 
03
 
Feb
 

Social media marketing firm acquired at up to 41.6x operating profit | BUSINESS SALE

Manchester-based social media and influencer marketing agenc...

 
02
 
Feb
 

US group snaps up UK conferencing and events spaces provider | BUSINESS SALE

Etc Venues, a UK-based provider of conferencing and events s...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.