Welsh construction contractor selling assets

Thu, 25 Jul 2019 | ADMINISTRATION

Administrators for the Port Talbot construction contractor Jistcourt have revealed that the company is selling off its assets after entering administration earlier this year.

Jistcourt South Wales Limited first appointed Huw Powell and Katrina Orum of Begbies Traynor as joint administrators on 27 June 2019 after announcing that the company had fallen into administration as a result of "challenging, loss-making projects" that left it in debt.

Mr Powell confirmed that the company managed to successfully complete one of its remaining construction projects for Bristol City Council following the announcement, but has since been forced to make a further 11 redundancies.

"A small number of employees are still in place while we gather information to help us fulfil our duties as administrators," he said.

"We continue to work with the remaining contract employers, with the assistance of an external quantity surveyor in an attempt to maximise returns for creditors."

Chartered surveyors Eddisons have now been brought in to manage an auction of the company's assets, offering potential buyers the chance to view the lots of the previously highly successful firm at sites in Tenby and Port Talbot on 24 July.

Jistcourt was originally formed in 1980 and has since gone on to achieve an annual turnover of £13 million. Its projects spanned a large area, from the West of Wales to the South West of England.

Just two months ago, the company opened a new regional office in Bristol after winning a £6.2 million contract with Bristol City Council to deliver a three-year maintenance programme across the city.

The administrators have confirmed that they will be issuing statements of proposals to the company's creditors within the next month.

Share this article

Latest Businesses for Sale

Construction Contractor: High-Value Affordable Housing Projects
East of England, UK

Provides comprehensive design, construction and after sales services for public- and private sector clients across a range of markets, specialising in residential projects Clients include housing associations, local authorities and commercial develop...

Asking Price: Offers Invited
Turnover: £15,000,000


Windows, Doors, Conservatory & Orangery Supplier & Installer
Lincolnshire, Yorkshire and the Humber, UK

Established in 1990 and purchased by the current owner in 2005. The business is recognised locally and within the region as one of the leading installers and suppliers of uPVC windows, doors, conservatories and orangeries. They are the largest stocki...

Asking Price: £550,000
Turnover: £1,300,000


Construction, Plant Hire & Building Services
UK Wide

Established over 20 years and based in the South East. Provides a broad range of services, including grab, plant and van hire, construction services, plumbing and drainage, brickwork, carpentry, painting and decorating, groundworks, fabrication and a...

Asking Price: Offers Invited
Turnover: £3,000,000


View more businesses for sale

News Search

Latest News


Fairstone completes double acquisition | BUSINESS SALE

Tyne and Wear-based consolidator Fairstone Financial Managem...


Amigo founder puts company up for sale | BUSINESS SALE

Amigo founder James Benamor has put the subprime lender up f...


Hawkin’s Bazaar enters administration | ADMINISTRATION

Norwich-based novelty toy retailer Hawkin’s Bazaar has...

Free guide: 10 Biggest Buyer Mistakes

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


Related News


South Wales furniture maker collapses into administration | ADMINISTRATION

Thought to be one of the top furniture manufacturers in the ...


Prominent Bristol construction company plunges into administration | ADMINISTRATION

An acclaimed construction company operating in southwest Eng...


Port Talbot construction business enters administration | ADMINISTRATION

A construction company based in Port Talbot has fallen into ...

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