Wed, 20 Mar 2019 | ADMINISTRATION
A prominent construction business headquartered in Orford Green, Warrington has collapsed into administration due to a decline in trade.
Clovemead Limited has been forced to call in Manchester-based insolvency specialists Poppleton & Appleby to handle the administration, with partners Charles Brook and Allan Cadman appointed as joint administrators.
Amongst some of the company’s construction projects to be hit by the administration is the development of the Countess of Chester Hospital’s new A&E extension.
However, as Clovemead’s management team appointed administrators at an early stage, it is likely that the company’s trading operations and work on existing projects will continue whilst a buyer is sought for the material assets of the business.
Its fuel system and signage division have already been sold.
Cadman said: “We are proud to have been selected to assist such a well-regarded company in achieving such a positive outcome. Although unable to preserve all jobs, we are confident that the outcome will assure many long-serving staff of future employment and retain critical skills within the region.
“Clovemead is a good example of the kind of results that can be achieved with early intervention and a willingness to explore commercial prospects in a bespoke manner.
"This is perhaps one of the finest examples of our own specialisms, and it has been a pleasure working with the company and its other advisers and senior personnel in this exercise. We are grateful for the trust, support and commitment of all at Clovemead and their clients that we have received.”
Click here to view the Clovemead Limited listing for full details.
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