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 / Scunthorpe construction group call in administrators

Scunthorpe construction group call in administrators

Mon, 09 Dec 2019 | ADMINISTRATION



Scunthorpe-based Clugston Group and Clugston Construction have gone into administration, appointing KPMG. James Clark and Chris Pole from KPMG’s restructuring division will act as joint administrators.

The group’s finances from January 2018 showed 49 per cent year on year growth and a turnover of £176 million, with the construction arm having a turnover of £158 million. However, those accounts also showed the group making a pre-tax loss of £469,000, while Clugston Construction had an operating loss of £529,000.

Clugston Group operates from over 25 sites, largely across the North and Midlands, with different divisions focused on construction, civil engineering, logistics, property development and facilities management. Clugston Distribution Services Limited and Clugston Estates Limited are not affected by the administration and will continue to trade.

The company employs 412 staff, 150 of whom have now been redundant with the remaining 262 retained to assist in the administration process.

The group had recently generated growth through its joint-venture with French firm CNIM, which saw the company engage in high-value contracts building waste-to-energy plants.

Clugston Group CEO Bob Vickers left the company in June of this year and was replaced on an interim basis by corporate rescue specialist Glynn Thomas.

In a statement, KPMG said: "The joint administrators will continue to trade certain divisions and are seeking to sell valuable contracts, with 262 members of staff retained to assist with this. Any interested parties should get in touch with KPMG as soon as possible."

Joint-administrator James Clark added: "Our focus over the coming days will be to seek buyers for the contracts and divisions and to liaise with those employees who have been made redundant, ensuring they are provided with the support and information they need to claim their statutory entitlements from the Redundancy Payments Office."


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

 
10
 
Mar
 

£32m turnover Angus Steakhouse appeals to landlords with administration looming | ADMINISTRATION

London’s popular Angus Steakhouse chain has appealed t...

 
21
 
Jan
 

ProCook considering sale as it undertakes strategic review | BUSINESS NEWS

Kitchenware retailer ProCook is to undertake a strategic rev...

 
09
 
Dec
 

Administrators seek buyer for garden machinery firm | ADMINISTRATION

Shropshire-based garden machinery company Oakley’s has...

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.