Prominent Bristol construction company plunges into administration

Mon, 07 Oct 2019 | ADMINISTRATION



An acclaimed construction company operating in southwest England has collapsed into administration following a string of financial difficulties.

Dribuild, headquartered in Hawkfield Way, Bristol, was forced to call in professional advisory firm Begbies Traynor to handle the administration process, with partners Neil Vinnicombe and Simon Haskew appointed as joint administrators.

Presently engaged in nine live commercial projects, Dribuild was founded in 2008 by its current managing director Matt Taylor, and has achieved consistent year-on-year growth. Some of the company’s projects have been worth up to £10 million.

In 2017, the company was listed in the Financial Times’ fastest-growing European companies list, and in the London Stock Exchange’s 1000 Companies to Inspire Britain in 2018.

Dribuild even had plans to open new offices in Manchester and Cardiff, and moved into new headquarters in Bristol last year.

However, financial pressures mounted as subcontractors failed to get paid on time, forcing the £40 million-business into administration.

Nine county court judgements are still outstanding for the company, and some members of staff have been retained to assist with the administration period.

Vinnicombe said: “It is always sad to see a business with a strong reputation and order book succumb to financial difficulties, especially when there are redundancies involved. As such, we are hopeful of working with existing customers to assist them to complete contracts in progress and help as much of the business’ highly skilled workforce as possible to find alternative employment.”


Share this article



Latest Businesses for Sale

Scaffolding Solutions
Scotland, UK

The company supplies, installs and dismantles scaffolding for a range of commercial clients operating in the nuclear and construction industries. Renowned for its dedication to safety and reliable, high-quality service, the company has developed a st...

Asking Price: Offers Invited
Turnover: £889,000

FREEHOLD


Landscaping Business
Scotland, UK

The company specialises in dependable and high-quality grounds maintenance, landscaping improvements and gritting services predominantly for property developers and private landowners across the local region. The company strives to offer a seamless e...

Asking Price: Offers Invited
Turnover: £1,181,000

Building Contractor
UK Wide

The company’s extensive service offering includes painting and decorating, spraying,electrical, building works, mastic and sparkle cleaning. Providing a comprehensive service, the business works collaboratively with clients from concept through to co...

Asking Price: Offers Invited
Turnover: £2,787,000


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 ...

 
25
 
Jun
 

Port Talbot construction business enters administration | ADMINISTRATION

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

 
05
 
Jun
 

North Yorkshire bathroom supplier enters administration | ADMINISTRATION

A bathroom supplier has collapsed into administration after ...

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