BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / Construction staffing firm sold out of administration

Construction staffing firm sold out of administration

Wed, 21 Jul 2021 | BUSINESS SALE

Construction staffing firm sold out of administration

Construction services and staffing firm Adeo Construction Services has been successfully sold out of administration by insolvency practitioner SFP. Joint administrators David Kemp and Richard Hunt were appointed to the firm on June 29, closing the sale to Adeo Global Consulting Ltd just over a week later.

Adeo Construction Services had suffered from historic financial difficulties and had been subject to a Company Voluntary Arrangement (CVA). These struggles came during a difficult period for the UK construction sector, with numerous firms falling into administration, which in turn impacted staffing providers like Adeo.

These difficulties were then exacerbated by the onset of the Covid-19 pandemic, which led to the forced closing of construction sites for several weeks, causing a major drop off in business. The impact on Adeo’s cashflow resulting from this forced it into administration.

Prior to its financial difficulties, the company had been a successful provider of staffing solutions to construction companies and major contracts (such as the Crossrail project), with a reported turnover of £1.5 million in 2019.

Following the company’s sale, joint administrator David Kemp said: “The lockdowns during the pandemic were immensely challenging periods for businesses, especially in the construction recruitment sector, with many struggling to manage cashflow.

“We are not only pleased to have helped save the business, but also to have retained and safeguarded all the jobs during these tough times. We advise businesses to seek guidance and help as soon possible in order to ensure continued success.”


Read more about the pressures impacting the UK construction industry and the effect on M&A.

Find businesses for sale here.

If you are looking for an exit, we can help!


Share this article



Latest Businesses for Sale

Roofing Contractor Specialising in Slating & Leadwork
UK Wide

The company is a multi-award-winning roofing contractor specialising in natural slate, leadwork and roof restoration projects. The company primarily completes historic restorations and also carries out commercial and domestic work. The quality of...

Asking Price: Offers Invited
Turnover: £1,200,000

LEASEHOLD


Provider of Windows & Doors Solutions
North West, UK

Based in north West England. The business supplies, installs and maintains high-quality window and door systems for its clients. The company has developed a strong reputation due to a proven track record of supporting its customers and local communit...

Asking Price: Offers Invited
Turnover: £1,000,000

FREEHOLD


Landscaping Specialist
UK Wide

Specialises in the provision of landscaping and grounds maintenance services to the commercial and domestic sectors. Manages all aspects of a project, from design to completion, tailoring its services to meet the specific needs of its clients.

Asking Price: Offers Invited
Turnover: £928,000

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
03
 
Feb
 

Social media marketing firm acquired at up to 41.6x operating profit | BUSINESS SALE

Manchester-based social media and influencer marketing agenc...

 
03
 
Feb
 

Pub group planning to sell 1,000 sites as pressures on hospitality mount | COMMERCIAL PROPERTY

Stonegate Group, the UK’s largest pub company, is repo...

 
02
 
Feb
 

Babble hits 12 acquisitions in a year with double takeover | BUSINESS SALE

London-based cloud technology firm Babble has continued its ...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
19
 
Jan
 

Injection moulding business sold out of administration to employees | BUSINESS SALE

Conwy-based injection moulding company A2B Plastics Limited ...

 
08
 
Apr
 

Telephone fundraising platform enters voluntary administration | ADMINISTRATION

A telephone fundraising agency has gone into voluntary admin...

 
08
 
Jun
 

Residential project on the hunt for a new buyer | ADMINISTRATION

A residential building development in the heart of Birmingha...

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

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.