Longcross Construction Ltd enters administration

Mon, 22 Jun 2015 | ADMINISTRATION

Longcross Construction Ltd has entered administration after its target market implemented wide-reaching cutbacks.

Lee Manning and Matt Smith from Deloitte have been appointed to handle the administration. They have confirmed that their first step will be “immediately reviewing the options for the business”.

Mr Manning added: "The company had been quite focused on the grocery business where cutbacks have been made on store expansions and refits.

"The directors concluded that the company was unable to continue to trade on this basis and resolved to place the company into administration. Work on site has been suspended while the joint administrators are considering the position."

Longcross focused on providing project management services for the construction industry. It employed some 140 staff; with the administrators halting immediately to review the company's position, it is unclear how many jobs will be maintained.

The latest company accounts show a pre-tax loss of around £1.4 million in the year to the end of March 2014.

The administrators clarified that the administrative process has not impacted the other companies within the Longcross group of companies - LXE South Ltd, LXE North Ltd and Longcross Fire and Security Ltd are all trading normally under the control of their directors.


View other construction businesses in administration.


Share this article



Latest Businesses for Sale

Manned & Electrical Security Solutions
South East, UK

Provides an extensive range of manned and electrical security solutions, including manned dog patrols and CCTV installation. Established for nearly 20 years. Utilises an in-house 24-hour control room for monitoring and response. Offers invited.

Asking Price: Offers Invited
Turnover: £3,100,000

LEASEHOLD


Complete Package of Pearpoint Pipeline Inspection Equipment (Fast Sale)
UK Wide

Viewing: Anytime In Normal Office Business Hours. Closing From 12 Noon Thursday 20th June.

Asking Price: Offers Invited
Turnover: £300k - £1m

Products & Contracting Services
UK Wide

Project Lake carries out contracting services for soil and water erosion control and ecological restoration projects, also supplying some of its own products into these projects at a healthy profit margin. Project Lake has four distinct areas of rev...

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

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Jun
 

Meat and poultry wholesaler goes under - business assets up for sale | ADMINISTRATION

Financial difficulties at a London-based meat and poultry di...

 
18
 
Jun
 

Administrators called in for West Midlands contractor | ADMINISTRATION

A contractor based in Aldridge, West Midlands has collapsed ...

 
17
 
Jun
 

Sheffield candle retailer enters administration | ADMINISTRATION

A shop retailing candle and gifts in Sheffield has collapsed...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
13
 
May
 

Historic West Yorkshire manufacturer enters administration | ADMINISTRATION

A construction industry supplier based in West Yorkshire has...

 
23
 
Apr
 

The Hut Group buys Christophe Robin haircare brand | BUSINESS SALE

British e-commerce firm The Hut Group (THG) has acquired Fre...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

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

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