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.
The Company is a highly regarded building contractor, predominantly providing its services to clients in the commercial and retail sectors. The Company has experienced considerable growth since its foundation, with the strength of its workforce and s...
LEASEHOLD
The company specialises in the design, manufacture and installation of bespoke retail interiors. Operates on an international basis. Currently works with over 60 active clients, 95% of whom provide reliable, repeat business.
LEASEHOLD
Achieved turnover of £44 million, with an adjusted EBITDA of £2 million. Provides a comprehensive range of M&E engineering and contracting services, predominantly working alongside leading construction companies on projects of all sizes. The company...
LEASEHOLD
|
15
|
|
Jan
|
Buyer sought for portfolio of pubs | BUSINESS SALE
Five pubs that formerly operated under the Authentic Alehous...
|
14
|
|
Jan
|
Acquisitive RSK Group completes trio of deals | BUSINESS SALE
Cheshire-based technical services consultancy RSK Group has ...
|
13
|
|
Jan
|
Heat transfer equipment manufacturer falls into administration | ADMINISTRATION
Coventry-based Covrad Heat Transfer has fallen into administ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
25
|
|
Aug
|
Coventry-based bus company enters administration | ADMINISTRATION
Coventry-based bus operator Travel de Courcey has entered ad...
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