Construction contractor The Dunne Group sinks into administration

Wed, 20 Jul 2016 | ADMINISTRATION

The Dunne Group, the construction and civil engineering contractor that had been working on an incomplete tower block in the City of London, has fallen into administration, with the immediate loss of 524 out of 540 jobs and immediate ceasing of operations.

Tom MacLennan, Iain Fraser and Geoff Rowley, partners at FRP Advisory, have been brought in to manage the administration process for The Dunne Group Limited and five subsidiaries.

Mr MacLennan confirmed that 16 staff have been kept on to help close down the business. “A team of 16 staff will be retained to assist with the closure process and realisation of the business' assets. Our priority is to work closely with all agencies and services to ensure employees receive every support and assistance at this very difficult time."

The group had won some major contracts in recent years including three high profile projects in London – Newington Butts, One Blackfriars and 100 Bishopsgate. It's turnover was expected to reach £96 million this year, from £74 million last year.

It was heading towards some large trading losses on certain contracts however, resulting in severe cash flow pressures, while its rapid expansion put pressure on working capital.

The Dunne Group owns a portfolio of specialist equipment and assets including cranes, trucks, lifting equipment, excavators and access platforms. These items will be valued and marketed for sale in due course.

Contact the administrators

Construction businesses in administration


Share this article



Latest Businesses for Sale

Consulting Engineers Focused on the Built Environment
London, UK

Unusual opportunity to acquire this national and well established, full service Mechanical & Electrical consulting engineering company. Offers invited.

Asking Price: £2,700,000
Turnover: £5,800,000

LEASEHOLD


Freight Brokerage Services
UK Wide

Works with a network of reliable hauliers to provide comprehensive and reliable logistics solutions on a national basis. Offers invited.

Asking Price: Offers Invited
Turnover: £420,000

RELOCATABLE


Food Manufacturer Specialising Flatbread Products
North of England, UK Wide

Has established a prominent position with clients in its industry due to its prestigious portfolio. Operates from two leasehold premises. Offers invited.

Asking Price: Offers Invited
Turnover: £671,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
23
 
May
 

Fintech company Loot collapses into administration | ADMINISTRATION

After failing to secure further backing from the Royal Bank ...

 
22
 
May
 

Spike in M&A activity in the education sector | BUSINESS SALE

In recent months, the education sector in the UK has witness...

 
22
 
May
 

Jamie Oliver restaurant empire collapses into administration | ADMINISTRATION

Celebrity chef Jamie Oliver, who shot to fame after campaign...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
05
 
Mar
 

Independent bathroom retailer enters administration | ADMINISTRATION

Thought to be the UK’s largest independent bathroom re...

 
21
 
Feb
 

Lakeside hotel enters administration | ADMINISTRATION

A historic but well-preserved hotel located on the banks of ...

 
31
 
Jan
 

UK's largest manufacturer of ceramic tiles enters administration | ADMINISTRATION

Based in Newton Abbot in Devon, British Ceramic Tile Limited...

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