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

Provider of Home Care
Yorkshire and the Humber, UK

Offers a variety of services including domestic assistance, medication administration, companionship and palliative care, as part of a 24/7 service. Care Quality Commission with a rating of ‘Good’ in all domains. Contractually provides its services t...

Asking Price: Offers Invited
Turnover: £1,300,000

LEASEHOLD


Fast Food Chain Restaurant
UK Wide

Currently operates from a number of restaurants, all of which are situated in prominent trading locations and benefit from high levels of footfall. Long-standing brand with a multitude of excellent reviews online. All dishes are prepared in store by...

Asking Price: Offers Invited
Turnover: £6,100,000

FREEHOLD


Landscaping & Maintenance Services
Midlands, UK Wide

Specialises in commercial landscaping, maintenance, restoration and ecology services. Has won multiple awards throughout its time in operation. Embraces works of all sizes and complexities, undertaking a diverse range of projects and working to ensur...

Asking Price: Offers Invited
Turnover: £602,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
09
 
Dec
 

Scunthorpe construction group call in administrators | ADMINISTRATION

Scunthorpe-based Clugston Group and Clugston Construction ha...

 
06
 
Dec
 

KPMG agrees to sell pensions arm | DIVISION SALE

Professional services network KPMG has announced that it has...

 
05
 
Dec
 

What a Labour government would mean for UK entrepreneurs | BUSINESS NEWS

Private business mergers and acquisitions expert Sue Green o...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
11
 
Oct
 

Administrators called in for Links of London | ADMINISTRATION

The most recent company to fall victim to the tough trading ...

 
26
 
Sep
 

Company behind the ‘Boris Bus’ enters administration | ADMINISTRATION

Wrightbus, the manufacturer behind the revived Routemaster a...

 
28
 
Aug
 

Buyer sought for Links of London | BUSINESS SALE

The Folli-Follie Group (FF Group) has announced today that i...

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