Historic construction company enters administration

Tue, 07 Jul 2015 | ADMINISTRATION

Historic construction company Fairhurst Ward Abbotts has entered administration following “severe cashflow difficulties”.

The business, which is based in Dartford, Kent, has appointed Begbies Traynor as administrators and it is thought that some 250 jobs will be lost as the business is wound down.

A spokesman for the administrators said that the cashflow troubles for the firm had “arisen primarily as a result of trading losses being incurred within certain divisions of the company”.

They added that the directors have been seeking new funding but no investment has been forthcoming and the difficulties were made worse when a creditor filed a winding-up petition against the company.

Sources have indicated, however, that some of the problems could also have been internal with the company appearing to have “lost control across the board” following a period of rapid expansion, The Independent reported.

Fairhurst Ward Abbotts was founded in 1941 and has worked on numerous valuable buildings around the country. Its latest high-profile job was on the restoration of Bletchley Park where Alan Turing worked to break the German 'Enigma' code.

Other work has been done on the National Gallery, the V&A Museum, Chatsworth House in Derbyshire and the Houses of Parliament.


View other businesses in administration


Share this article



Latest Businesses for Sale

Private Hire Taxi Company
North of England, UK Wide

Specialises in providing fast, reliable and trustworthy private hire transport services using a modern and maintained fleet for the public, commercial and corporate sectors. Service offering is enhanced through an industry-leading smartphone applicat...

Asking Price: Offers Invited
Turnover: £5,600,000

LEASEHOLD


Home Care Franchise
Mansfield, Nottinghamshire, East Midlands, UK

The franchisor offers a white-collar management franchise focusing in the dynamic multi billion pound care and support market. The role of a franchisee is one of working “on” the business, as opposed to working “in” the business – managing people, st...

Asking Price: £250,000
Turnover: £1,200,000

LEASEHOLD


Security Services Business
London, Buckinghamshire, South East, UK

Established business acquired as going concern in 2013 with excellent reputation for quality, service and reliability. An opportunity exists to purchase the business and assets of well-established security business. Long track record of profitability...

Asking Price: Offers Invited
Turnover: £1,900,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
18
 
Dec
 

High street clothing chain enters administration | ADMINISTRATION

A prominent high street clothing chain has collapsed into ad...

 
10
 
Oct
 

Bar firm enters administration | ADMINISTRATION

Bar firm Burning Night Group, the owner of a number of Bierk...

 
06
 
Aug
 

Administrators called in for credit union | ADMINISTRATION

Polish Credit Union UK Limited, which launched in 2013 and h...

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