Fri, 30 Jul 2021 | ADMINISTRATION
Newcastle-based contractor Kapex Construction Limited has entered administration. The company, which said last year that it had an order book of £40 million, is understood to be close to appointing FRP Advisory to handle the administration process.
In its most recent reports at Companies House, to the year ending March 31 2020, the company had current assets of £4.1 million, with creditors owed around £3.6 million within one year. The company reported post-tax profits of £433,020 on turnover of £11.6 million.
This represented significant growth from the previous year, when the company made £161,410 in profit on revenue of £3.1 million.
Founded in 2016 as part of the Morton Group, Kapex was largely involved in residential construction contracts in the North East, working on projects including commercial building refurbishment and student accommodation.
According to recent reports, work on the firm’s ongoing sites stopped earlier this month, with staff being sent home. A number of staff have reportedly since confirmed online that they are no longer working for Kapex.
Kapex’s collapse comes at a turbulent time for the construction industry, following the administration of Cleveland Bridge last week and Welsh firm WRW Construction earlier in the month.
To read more about the factors impacting the UK construction industry and how these could spur M&A activity, click here.
View the latest distressed UK businesses here.
Based in the West Midlands, they provides above ground plumbing and heating installation services for national and regional house builders, with the capability to carry out works on large domestic housing projects comprising hundreds of newly-built d...
LEASEHOLD
The ‘turn-key’ business opportunity is enjoying considerable growth within a sector which is becoming increasingly popular due to the many benefits they offer including – storm water management, lower energy costs, longer roof life, habitat and aesth...
LEASEHOLD
Manufacturer of site buildings, container units, effluent tanks and stair units to the construction and hire industries. Highly regarded company with full manufacturing and service support in house. Trusted partners to national hire company. Turn...
RELOCATABLE
|
24
|
|
Jun
|
E-commerce imports retailer up for sale for £1.6m | BUSINESS SALE
Deals Incorporated, a Manchester-based e-commerce retailer t...
|
23
|
|
Jun
|
Auto Trader completes acquisition of Autorama at nearly 16x gross profits | BUSINESS SALE
Auto Trader has completed the acquisition of new vehicle lea...
|
22
|
|
Jun
|
Acquisitive ESG consultancy set to be sold | BUSINESS SALE
An acquisitive environmental and sustainability consultancy ...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources