Building contractor Simons goes into administration

Wed, 30 Oct 2019 | ADMINISTRATION

Lincoln-based building contractor Simons Group has announced that it has gone into administration. Accountant FRP Advisory has been appointed administrator.

FRP Advisory said that some staff will be retained as the business is wound down and attempts are made to transfer the firm’s existing contracts to alternative contractors.

Simons Group ran into problems over its £33 million contract to build the Pebble Hospital in the Midlands, which would be the country’s second biggest hospital upon completion.

Joint administrator Nathan Jones said that: “After a period of challenging trading and contract delays resulted in unsustainable cashflow difficulties, the directors of Simons Group were left with no choice but to enter the business into administration.”

He added that “Our initial focus will now be on working to ensure that any live contracts are transferred across to new contractors with minimal disruption” and that FRP would be “looking to market some elements of the business for sale and encourage any interested parties to make contract with the administrators without delay.”

In its last financial year, Simons Group made a £704,000 pre-tax profit on turnover of £104.4 million. The company was established in 1944 and has specialised in retail and commercial contract work, with previous clients including the chemist Boots, supermarkets Morrisons and Aldi, Marks & Spencer and fashion retailer Primark.

The group’s construction arm is its biggest business, with turnover in 2018 of £92.5 million while its property development business had revenue of £10.1million. Its design business had an income of £1.8m during the same period.

Company account show that Simons Group employs 182 people, down from 215 employees in its 2017 accounts.

Share this article

Latest Businesses for Sale

Construction, Plant Hire & Building Services
UK Wide

Established over 20 years and based in the South East. Provides a broad range of services, including grab, plant and van hire, construction services, plumbing and drainage, brickwork, carpentry, painting and decorating, groundworks, fabrication and a...

Asking Price: Offers Invited
Turnover: £3,000,000


Roofing Contractors
Lancashire, UK Wide

Good accreditations and member of quality schemes. Situated in the busy town of Rochdale with good road links. Long established and highly reputed business. Great reputation with regular and repeat trade. Offers invited.

Asking Price: £709,950
Turnover: £521,843


Mining Company
Zetland, UK Wide

We produce high quality landscape rock and products for large scale municipal projects. Encompassed with a successful commoditization of the rock product to the retail sector . Business includes well established wholesale and retail accounts

Asking Price: £48,000,000
Turnover: £11,500,000


View more businesses for sale

News Search

Latest News


Hawkin’s Bazaar enters administration | ADMINISTRATION

Norwich-based novelty toy retailer Hawkin’s Bazaar has...


MBO at Bristol-based media training firm | MBO/MBI

Mentor Media Training has been acquired by lead consultant D...


Chelmsford warehouse management firm bought by software provider | BUSINESS SALE

Chelmsford-based warehouse management solutions provider Min...

Free guide: 10 Biggest Buyer Mistakes

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


Related News


Peacocks to rescue Bonmarche | BUSINESS SALE

Peacocks has agreed a deal with administrators to rescue riv...


Welsh technology firm plunges into administration | ADMINISTRATION

Thought to be one of the country’s leading ICT supplie...


Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

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