Warrington construction business to enter administration

Mon, 27 Jul 2020 | ADMINISTRATION



Warrington-based construction firm Cruden Construction, which has been operating for more than 50 years, has revealed that it is set to go into administration.

Based in Grappenhall in Warrington, Cruden was first founded as Skarne Ltd in 1964, but the firm was renamed and rebranded 12 years later.

The well established company has announced that it has filed a notice of intent to appoint an administrator just one month after it was awarded a £19 million contract to construct a care home in Southport.

Cruden was also among 30 contractors to be appointed to Great Places Housing Group's £750 million Innovation Chain North framework, which aims to deliver affordable and social housing projects across the area.

The news comes after the company reported an operating loss of £2.3 million for the financial year ending September 2018, despite turning over more than £38 million.

Like many other construction company's, Cruden saw a number of its construction sites closed at the start of April due to a lack of availability of materials following the coronavirus lockdown.

This resulted in many of the firm's senior managers having to share short term pay cuts in order to prevent further financial problems. However, their decision did not change the outcome for the company.

The company will become the second major construction company in the area to have entered administration this year alone. A winding up order was served against Harry Fairclough Construction, which was founded even earlier in 1898, in February of this year.

KPMG are believed to be overseeing the administration process for Cruden, and have informed the company's staff of the developments.


Share this article



Latest Businesses for Sale

Architectural Metalwork Manufacturer
North of England, UK Wide

CE certified manufacturer of high-quality bespoke architectural metalwork to the retail commercial & construction sectors. Offers a full turnkey service from design to build & install for shops bars restaurants commercial offices & residential proper...

Asking Price: Offers Invited
Turnover: £3,306,000

Asbestos Removal Contractor with Ongoing Asbestos Management Revenues
West Midlands, UK

Asbestos removal specialising in the removal surveying & management of asbestos in commercial & residential properties nationwide. Unique in its integrated offering of removal & consultancy services it operates across the insurance restoration public...

Asking Price: Offers Invited
Turnover: £3,163,000

Playground Equipment & Safety Surfacing Provider
South of England, UK Wide

Well-established companies offering turnkey solutions for children's outdoor play spaces and environments including fencing and street furniture as well as specialist safety surfacing. Undertaking all works in-house the companies provide a complete s...

Asking Price: Offers Invited
Turnover: £1,699,877


View more businesses for sale

News Search

Latest News

 
07
 
Aug
 

Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...

 
06
 
Aug
 

Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION

One of the UK’s leading ski tour operators Harris Holi...

 
05
 
Aug
 

Pizza Express puts itself up for sale and looks to close 67 outlets | BUSINESS SALE

Pizza Express has announced that it is seeking a buyer for i...

Free guide: 10 Biggest Buyer Mistakes

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

Email


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