Wed, 16 Jan 2013 | ADMINISTRATION
A cement supplier has been placed in administration after struggling to maintain its cash flow.
Dudmans is an independent aggregates, ready mix and cement supplier based in Sussex. It was born out of a haulage business more than 20 years ago and now also operates a number of different sites, including several aggregate and concrete outlets in Sussex and Hampshire and a hard rock quarry in Cornwall.
Its efforts to expand its cement importing business had provided healthy returns, with turnover reaching over £30 million in the past few years. However, the extended downturn in the construction industry has seen the company run into difficulties, reports from the Construction Enquirer confirmed.
James Stares, joint administrator from Grant Thornton, told the news source: “The construction industry continues to be affected by the tough economic climate and this has been the case with the Dudman Group, which entered administration after cash flow pressures led to financial difficulty.
“We are currently reviewing the business and identifying what the best option is. We would not be able to speculate as to whether or not there will be redundancies until that review is complete”
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