Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Manchester construction group calls in administrators

Manchester construction group calls in administrators

Tue, 24 Nov 2020 | ADMINISTRATION



Manchester-based construction firm Goodwin’s Construction Services Group has entered administration, with administrators saying that COVID-19-related project delays had caused cashflow difficulties.

Founded in 2014, Goodwin’s Construction Services Group, formerly known as Goodwin Construction Group, was part of the Goodwin Group. The company was based in Cheadle and worked on schemes across the North West of England.

It worked on projects across many diverse sectors, including commercial, retail, residential, industrial and leisure. At the outset of 2020, the company had a solid advanced order book but began to suffer project delays during the COVID-19 pandemic, causing mounting cashflow problems.

Goodwin’s had however also suffered several project delays prior to the pandemic. The company had been involved in numerous projects with contractor Pinnacle, which collapsed in 2018, leaving major projects in Bradford and Liverpool up in the air.

Yasmin Bhikha, John Lowe, and Anthony Collier of FRP Advisory have been appointed as joint administrators. The administration has led to 30 redundancies among the company’s staff. Goodwin Group is unaffected and will continue to trade as normal.

John Lowe commented: “Goodwin’s Construction Services was a strong business but, unfortunately, the challenges facing the business left it with no option other than to appoint administrators as it was unable to generate the cashflow to remain solvent. Our priority is now to support those employees affected and we will be working closely with the redundancy payments service to do so.”

In its latest reports, to the year ended June 30 2019, Goodwin’s reported fixed assets of £106,087, current assets of close to £4.5 million and net current assets of close to £1 million, with creditors owed £3.5 million.

At the time, the company had cash reserves of £1.7 million, profit reserves of £1.1 million and was owed £2.7 million by debtors.


View the latest distressed UK businesses here.


Share this article



Latest Businesses for Sale

Plumbing, Heating & Electrical Specialists
Ickenham, Essex, London, UK

The company was originally founded in 2017 to provide domestic and commercial heating and electrical services in the Essex, East London and surrounding area.

Asking Price: £525,000
Turnover: £1,000,000

LEASEHOLD


Firedoors Business
Kent, UK Wide

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...

Asking Price: £50,000
Turnover: £300,000

Building Contractor
South East, UK

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...

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
20
 
May
 

Administrators seek buyer for gourmet instant noodle brand | ADMINISTRATION

Bournemouth-based instant foods brand Mr Lee’s Pure Fo...

 
19
 
May
 

Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE

Legal services company Knights has acquired Portsmouth-headq...

 
18
 
May
 

Insolvencies forecast to surge 37 per cent in 2022 as inflation hits 40-year high | BUSINESS NEWS

Businesses in the UK look set to come under continuing press...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
07
 
Oct
 

Cleveland Bridge assets to go to auction next month | COMMERCIAL PROPERTY

It has been confirmed that an auction of the property and as...

 
10
 
Sep
 

Cleveland Bridge property and assets to head to auction as search for a buyer fails | ADMINISTRATION

Administrators for structural engineering firm Cleveland Bri...

 
08
 
Sep
 

Assets for sale as Scottish wind turbine firm enters administration | ADMINISTRATION

Scottish wind turbine manufacturer CS Wind (UK) has fallen 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

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.