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.
For more news stories about administrations click here. For all our administrations listings, click here.
This business offers a broad range of groundwork services to the construction industry including foundation work, drainage, ponds, lakes and mud clearance, which are all regular projects. Offers invited.
The company is a family run construction plant hire and sales company that provides professional services to a wide number of clients. With a quality, comprehensive range of resources, that are continually researched and developed and a workforce wit...
Specialises in the delivery of new-build, refurbishment and interior projects for clients based across London and the surrounding areas. Prestigious client base, with several relationships spanning over 8 years. Offers invited.
LEASEHOLD
|
15
|
|
Jun
|
Equity funding reaches record high for SMEs | BUSINESS NEWS
As investment rises outside of the capital, small businesses...
|
14
|
|
Jun
|
Bedding retailer fall into administration after running into troubles on the high street | ADMINISTRATION
The Yorkshire Linen company has been forced to shut its door...
|
13
|
|
Jun
|
Sipp firm with a total investment value of £130m enters administration | ADMINISTRATION
GPC Sipp Limited, a firm specialising in providing technical...
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