Tayside construction firm enters administration

Wed, 06 Feb 2019 | ADMINISTRATION



Dundee construction company Land & Building Services has gone into administration, ceasing trading with immediate effect.

The firm blamed difficult trading conditions as well as the recent collapse of one of its main clients, fellow Dundee-based company McGill & Co.

Campbell Dallas partners Derek Forsyth and Blair Milne have been appointed as joint-administrators.

Derek Forsyth highlighted the construction sector’s well-documented trading and cash flow problems, along with the collapse of McGill & Co. as major contributing factors to Land & Building Services' administration.

"We will now be marketing the company's assets for sale, including remaining contracts, and a wide range of plant and equipment, and would urge interested parties to contact us as soon as possible,” Forsyth said.

"We will also be working closely with the relevant agencies, including the Redundancy Payments Office, to ensure the employees receive as much support as possible,” he added.

Land & Building Services was founded in 1990 and employed 27 people, providing a range of services for the construction sector.

McGill & Co. announced the redundancy of over 370 employees after entering administration last week. The building contractor had employed 429 people across its Dundee headquarters and further offices in Glasgow and Edinburgh.

It blamed a winter slowdown in the construction industry, exacerbated by customers refusing to settle bills on time. The firm was ultimately unable to secure the necessary funding required to reorganise its business in time.

McGill & Co. was founded in 1981 and provides services to clients across the residential, industrial and commercial sectors.


Share this article



Latest Businesses for Sale

Construction Company
Leeds, West Yorkshire, Yorkshire and the Humber, UK

Highly profitable Family Run Business, that has been in the same hands for over 20 years. Operating out of Leasehold premises the business is easily relocatable, many of the subcontractor workforce has been working with the company for many years. Of...

Asking Price: £1,900,000
Turnover: £1,709,427

LEASEHOLD


Buildings & Facilities Management Business
UK Wide

Highly accredited buildings and facilities management business: 95% repeat business from longstanding, secure contracts with blue chip, London-based clients. Significant room for growth: from an existing client base that is displaying increasing dema...

Asking Price: Offers Invited
Turnover: £576,000

Concrete Supply Business
Wymondham, Norfolk, UK Wide

Mobile Concrete Supplies, a family run business that was established in 1980. Our client is now looking to sell due to health reasons. Working with trade and private customers throughout Norfolk, delivering and pouring ready mixed concrete. Their man...

Asking Price: £750,000
Turnover: £2,458,654

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

 
14
 
Nov
 

Scale manufacturer taken over in MBO | MBO/MBI

Weighing scale manufacturer Marsden Weighing Group has been ...

 
13
 
Nov
 

Brighton energy firm appoints administrators | ADMINISTRATION

Brighton-based utilities company Toto Energy has gone into a...

Free guide: 10 Biggest Buyer Mistakes

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

Email


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