Wed, 12 Oct 2011 | ADMINISTRATION
Holloway White Allom, the construction firm that specialised in properties such as the Old Bailey, has entered administration. KPMG was called in to act as administrator one week ago and is now preparing to sell off the assets.
“The business has ceased trading prior to our appointment with 175 redundancies made. We are now looking to sell the assets,” a spokesman for KPMG said.
As well as a history of financial difficulties, the firm had several loss-making contracts during the economic downturn, which has hit its turnover figure. Attempts had been made to address its dire finances with funding from private equity firm Privet Capital in exchange for a majority holding. Also, its turnaround plans were adversely affected by the delayed payment for a large project.
Established in 1882 as Holloway Brothers, the firm built prestigious buildings including the Old Bailey, the Bank of England and the Trafalgar Square fountains, as well as several landmark bridges including the Chelsea, Hampton Court and Wandsworth bridges over the Thames in London.
Holloway Brothers bought White Allom in 1960 and went on to be taken over by John Laing in 1964. Holloway White Allom Ltd was run as a Laing subsidiary until the management team bought it out in 2002.
A leading dental practice situated in the heart of London, providing exceptional dental care in a comfortable and welcoming environment.
LEASEHOLD
A leading internet-based provider of customisable and curated beauty box services. Over the last decade, the business has evolved from a premier subscription service to a leading internet-based provider of highly attractive and rapidly expanding beau...
WEB-BASED
Discover a leading innovator in data centre solutions, recognised as a top supplier both in the UK and internationally, with a robust consultancy arm contributing to a growing turnover.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.