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
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Warrington construction business to enter administration

Warrington construction business to enter administration

Mon, 27 Jul 2020 | ADMINISTRATION



Warrington-based construction firm Cruden Construction, which has been operating for more than 50 years, has revealed that it is set to go into administration.

Based in Grappenhall in Warrington, Cruden was first founded as Skarne Ltd in 1964, but the firm was renamed and rebranded 12 years later.

The well established company has announced that it has filed a notice of intent to appoint an administrator just one month after it was awarded a £19 million contract to construct a care home in Southport.

Cruden was also among 30 contractors to be appointed to Great Places Housing Group's £750 million Innovation Chain North framework, which aims to deliver affordable and social housing projects across the area.

The news comes after the company reported an operating loss of £2.3 million for the financial year ending September 2018, despite turning over more than £38 million.

Like many other construction company's, Cruden saw a number of its construction sites closed at the start of April due to a lack of availability of materials following the coronavirus lockdown.

This resulted in many of the firm's senior managers having to share short term pay cuts in order to prevent further financial problems. However, their decision did not change the outcome for the company.

The company will become the second major construction company in the area to have entered administration this year alone. A winding up order was served against Harry Fairclough Construction, which was founded even earlier in 1898, in February of this year.

KPMG are believed to be overseeing the administration process for Cruden, and have informed the company's staff of the developments.


Share this article



Latest Businesses for Sale

General Building Contractor
Scotland, UK

General building contractors carrying out refurbishment & repair works, including structural repairs, rot eradication, roofing works, facade repairs & decoration works. Diverse client base includes commercial clients local authorities & housing assoc...

Asking Price: Offers Invited
Turnover: £4,500,000

Paving & Drainage Contractor
Merseyside, North West, UK

Well established and lucrative Paving and Drainage Contractor. Leasehold/Freehold option available. Convenient and accessible trading position, loyal customer base. Predicted increased turnover £900k (y/e 30.04.20), consistently strong profits, impre...

Asking Price: £675,000
Turnover: £781,539

LEASEHOLD


Independent Building Contractor
UK Wide, Scotland

The Company is a highly regarded building contractor, predominantly providing its services to clients in the commercial and retail sectors. The Company has experienced considerable growth since its foundation, with the strength of its workforce and s...

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

630,000 UK businesses in “significant financial distress”, according to report | BUSINESS NEWS

According to the most recent Red Flag Alert research from Be...

 
21
 
Jan
 

ProCook considering sale as it undertakes strategic review | BUSINESS NEWS

Kitchenware retailer ProCook is to undertake a strategic rev...

 
20
 
Jan
 

Modulaire Group extends UK presence with Carter acquisition | BUSINESS SALE

Modular space leasing business Modulaire Group has announced...

Free guide: 10 Biggest Buyer Mistakes

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

Email


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


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Daily Financial Alerts
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.