Concrete contractor enters administration

Fri, 08 May 2015 | ADMINISTRATION

PC Harrington Contractors Ltd., a specialist concrete contractor, has entered administration following financial difficulties.

The business ceased trading after administrators were appointed to the business earlier this week (5 May). Jonny Marston and Howard Smith of KPMG are working as joint administrators of the business.

PC Harrington Group operates in reinforced concrete construction, providing services in areas including substructures, slipforming and bridges. The insolvent business was one of five businesses, the other four are continuing to operate under control of their existing management.

The administrators explained that difficult trading conditions had contributed heavily to PC Harrington Contractor's insolvency. The economic downturn and a number of loss-making contracts resulted in the company ceasing trading.

Work is now set to begin to realise value for the company's assets. Contract debts are thought to be the main focus here. Anyone interested in buying the assets is asked to contact the administrators.

The administration comes in the same week that the CIPYS/Markit Construction Purchasing Managers' Index revealed a sharp decline in the construction industry, with a drop in the index from 57.8 in March to 54.2 in April.

Contact the administrators.

Another concrete business, Bell & Webster Concrete Limited, also entered administration recently. Subscribers can find out more information from our distressed business listing here.

View other distressed assets for sale


Share this article



Latest Businesses for Sale

Outsourced HR Solutions for SMEs
UK Wide

This is an opportunity to acquire a full-service HR consultancy. Built upon a recurring revenue model the business has enjoyed sustained growth, offers significant opportunities to scale and a strong ROI model. Offers invited.

Asking Price: Offers Invited
Turnover: £600,000

Builders Merchant: Hard Landscaping Specialist
Cheshire, North West, UK

In its second generation, this business has supplied hard landscape materials, fencing and other building materials to the trade and individuals for over 40 years. Whether you're re-laying a small path or creating a jaw dropping driveway, this busine...

Asking Price: Offers Invited
Turnover: £683,000

FREEHOLD


Three Branded Fast Food Outlets
Northern Ireland, Northern Ireland, UK

Assets and goodwill of 3 national fast food outlets of a well-known brand. (May be sold in totality or in lots to suit). Opportunity for purchaser to acquire 3 profitable fast food outlet businesses which will require minimal training upon handover a...

Asking Price: £240,000
Turnover: £701,979

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
23
 
Aug
 

Administrators called in for energy technology firm Faraday Grid | ADMINISTRATION

Faraday Grid, an Edinburgh-headquartered energy transformer ...

 
22
 
Aug
 

Welsh technology firm plunges into administration | ADMINISTRATION

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

 
21
 
Aug
 

Solicitors Title LLP buys Somerset law firm in pre-pack administration | ADMINISTRATION

Somerset-based law firm, Broomhead & Saul LLP, has been save...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
05
 
Aug
 

Superbreak and LateRooms travel businesses for sale after administrators appointed | BUSINESS SALE

The Malvern Group, parent company of LateRooms and Superbrea...

 
09
 
Jul
 

Assets for sale as engineering firm appoints administrators | ADMINISTRATION

An engineering firm based in South Yorkshire has fallen into...

 
26
 
Jun
 

'All options' being explored for collapsed Welsh cheese maker | ADMINISTRATION

A cheese-making factory in Snowdonia has collapsed into admi...

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