Liverpool-based building contractor enters administration

Thu, 05 Nov 2015 | ADMINISTRATION

A building contractor based in Liverpool has entered administration after struggling with financial difficulties over the past year.

W. Braithwaite & Son Limited has worked with a number of blue-chip companies, hospital trusts, councils, banks and universities offering building contractor and shop fitting services.

However, earlier this week (2 November) administrators Andrew Mackenzie and Nick Reed of Begbies Traynor were appointed to wind down the business due to the firm's financial difficulties.

Mr Mackenzie commented: “The majority of the 22-strong staff have been made redundant, but a skeleton staff of seven remains to complete certain contracts.

“The company has a strong reputation and an excellent track record and we are currently looking for expressions of interest for the business and or the assets of the company.”

W. Braithwaite & Son has roots going back to 1899 and employed a complete management team as well as the craftsmen, labourers, decorators and plasterers needed for the work, priding itself on providing a workforce to encompass all trades.

The company will complete the few contracts that the administrators have decided to retain staff to focus on but just what future plans, if any, the administrators have in mind for the business are unclear at this point.

While W. Braithwaite & Son has faced insurmountable troubles, must of the UK's construction sector is on the up at the moment.

The latest Markit/CIPS UK Construction Purchasing Managers' Index (PMI) for October recorded 58.8. While this is a little lower than September's 59.9, it is still well above 50 – the point at which the sector is seen to be expanding.

The PMI data confirmed that input buying rose at its steepest rate for nine months and expansion was seen right across the industry, with housing, civil engineering and commercial all recording growth.

Tim Moore, senior economist at Markit, commented: “Another relatively buoyant construction PMI reading indicates that the sector remains in rude health. Rather than acting as a drag on the economy, as suggested by recent GDP estimates, the sector is continuing to act as an important driving force behind the ongoing UK economic upturn.”

Contact the administrators

View other businesses in administration.


Share this article



Latest Businesses for Sale

Multichannel Print & Media Management Company
UK Wide

Our client is a market-leading print and media management company, utilising changing trends and technologies to remain at the forefront of its sector. Offers invited.

Asking Price: Offers Invited
Turnover: £9,900,000

Diving Equipment Business
UK Wide

Established for over 37 years, the company has developed a strong industry reputation for providing consistently high-quality and high-performance diving equipment, complemented by excellent levels of customer satisfaction. The company offers a compr...

Asking Price: Offers Invited
Turnover: £997,000

FREEHOLD


Supplier of Products to Security Wholesale
UK Wide

Opportunity to acquire the entire issued share capital of a UK based supplier of infrastructure, power supply, transmission and ancillary equipment to the Security industry. A strategic buyer can benefit from the Company's extensive product range and...

Asking Price: Offers Invited
Turnover: £1,649,000


View more businesses for sale

News Search

Latest News

 
17
 
Oct
 

SYNETIQ acquires motor remanufacturer Motorman | BUSINESS SALE

Salvage and vehicle recycling company SYNETIQ Limited has ac...

 
17
 
Oct
 

Sealant company makes its first acquisition in Yorkshire | BUSINESS SALE

SD Sealants, a sealant and cosmetics repair business headqua...

 
16
 
Oct
 

Automotive supplier completes MBO | MBO/MBI

An automotive products supplier located in South Yorkshire h...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
09
 
Oct
 

South Wales furniture maker collapses into administration | ADMINISTRATION

Thought to be one of the top furniture manufacturers in the ...

 
07
 
Oct
 

Prominent Bristol construction company plunges into administration | ADMINISTRATION

An acclaimed construction company operating in southwest Eng...

 
25
 
Jun
 

Port Talbot construction business enters administration | ADMINISTRATION

A construction company based in Port Talbot has fallen into ...

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