Wed, 15 Aug 2018 | ADMINISTRATION
It seems these are difficult times for construction companies, as Dancourt Construction becomes the third subcontractor in the South West and Wales region alone to be placed in administration in 2018.
This follows the recent administrations of neighbouring company Ikon in May, and the Neath-based Cuddy Group in July.
The Bristol-headquartered company was forced to call in accounting firm Bishop Fleming, and has appointed Head of Business Recovery and Insolvency Jonathan Williams as the administrator.
Dancourt Construction was established in 2002 and offered a range of services, from civil engineering, plant hire, ground works, bulk earth works and concrete frames.
The company is known to have worked on a series of different schools in the Bristol area, and the Hinkley Point nuclear power stations. As well as this, Dancourt Construction had contracts to work on the Ashton Gate Stadium in Bristol, and carry out a number of jobs for the universities of Oxford and West England.
It has even worked alongside a number of other contractors, including Sir Robert McAlpine, Vinci and Skanska, Willmott Dixon and has even collaborated with developers Barratt Homes.
Despite earning a £15.5 million turnover in 2016, the final year in which Dancourt Construction filed its accounts, with a pre-tax profit of £210,000, the company has been met with financial strains.
It is suspected that the rising costs of labour was the reason for the business’s difficulty in establishing a steady cashflow, but the information has not been confirmed by a Dancourt official.
Dancourt is yet to make a comment.
For more news stories about administrations click here. For all our administrations listings, click here.
Specialises in the provision of landscaping and grounds maintenance services to the commercial and domestic sectors. Manages all aspects of a project, from design to completion, tailoring its services to meet the specific needs of its clients.
RELOCATABLE
A unique opportunity to acquire a well established business, for sale due to retirement. Massive potential for increased turnover as current business owner in semi retirement. Consistent increase in Turnover over the previous 5 years. Current year re...
RELOCATABLE
The company’s services include the provision of skilled labour for a wide scope of work, such as repairs, planned and preventative maintenance, civil engineering and underground excavation.
RELOCATABLE
|
17
|
|
Sep
|
Buyer or tenant sought for 350k sq ft Argos distribution centre | COMMERCIAL PROPERTY
A tenant or buyer is being sought for a 350,000 sq ft Argos ...
|
16
|
|
Sep
|
Kroll to sell off assets as hotel and property companies enter administration | ADMINISTRATION
Kroll Advisory Ltd is set to start selling off assets after ...
|
16
|
|
Sep
|
Fintel sells fund management business at 4.1x profits as part of new partnership | DIVISION SALE
Fintech and support services firm Fintel has sold its fund m...
Sign up to receive our acquisition alert emails to get your FREE guide
|
17
|
|
Jul
|
Prominent construction company enters administration | ADMINISTRATION
RG Spiller, a well-established construction firm that is sai...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources