Thu, 01 Jul 2021 | ADMINISTRATION
Liverpool-based building contracting firm Nobles Construction has announced that it has fallen into administration as a result of financial difficulties caused, in part, by the impact of the coronavirus pandemic.
According to the company's managing director Sean O’Connor, Nobles was refused a Coronavirus Business Interruption Loan (CBILS) of between £50,000-£100,000 despite being heavily impacted by Covid-19. As a result, it struggled to bring back furloughed staff and resume trading despite having secured two major building contracts.
The company has also confirmed that it has been locked in a payment dispute with building developer High Street Group over a £33 million contract for a Warrington-based, 362-apartment project known as Cheshire Junction.
After the scheme stalled in February of this year, Nobles attempted to claim payment for the work it had already carried out. However, the developer argued that the building company was responsible for on-site delays and therefore withheld payment, adding to Nobles financial concerns.
Nobles Construction was founded in 1995 and had a turnover of £25 million. The business worked across a number of sectors including commercial, education, healthcare, industrial and transport, leisure and residential.
The firm's contracts included work for a number of prominent organisations within and around the city, such as Liverpool Mutual Homes, Bluecoat School, Royal Albert Dock and Epstein Theatre. The company had also secured a £1.5 million contract to fully transform Liverpool FC's souvenir store located in the Liverpool One retail centre.
It has been confirmed that Mark Bowen of MB Insolvency has been appointed as the administrator for Nobles and will take responsibility for handling the affairs of the firm as it considers its options.
The company was originally founded in 2017 to provide domestic and commercial heating and electrical services in the Essex, East London and surrounding area.
LEASEHOLD
This is a retirement sale. Owner financed. Ideal for full refurbishment. Home based. Small business. Company for sale. Unique business. Attractive business. Established business. The website is the business being sold. Producing an income of £3000...
Offers a comprehensive range of building services for commercial and private clients throughout South East England. Has the capability to build high-quality houses and extensions, as well as undertake refurbishment and conversion works. Works with a...
LEASEHOLD
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