Fri, 22 Nov 2024 | ADMINISTRATION
Cheshire-based contractor Lyjon Group has appointed administrators after a tough trading period.
Administrators from Opus Restructuring were brought in earlier this month and appointed on November 14, according to filings on Companies House.
Founded in May, 1964, the Lyjon Group is based in Telford Road, Ellesmere Port. Its website says it delivers projects ranging in value from £10,000 to £1.5m. It operates four divisions - construction, electricals, insulation and cladding.
In the past it has carried out work for local authorities including Wirral, Cheshire West, Chester, Knowsley and Liverpool. Other clients have included Knowsley Housing Trust (Livv Housing Group), Tate & Lyle and United Utilities.
In its most recent results filed to Companies House, the business in the year to September 30 2023 recorded a turnover of £7.9 million, down from £8.1 million in the previous year. Its loss before taxation widened to £1.1 million from nearly £122,000 the previous year.
The group, with an average of 49 staff during the financial year, had net assets of £1 million, down from £1.9 million the previous year.
Creditor amounts falling due within one year were up to £2.4 million from £1.86 million. Of that amount £1.8 million was owed to trade creditors.
In the latest accounts the group stated that it was looking to increase its market share by ‘continuously developing long lasting partnership arrangements’.
The construction sector in the UK however has been hit badly in recent years battered by higher material prices, supply chain disruption, higher interest rates and skill shortages.
The industry accounted for 12 per cent of UK administrations in 2023 – the second highest sector – and up 22 per cent on 2022, according to analysis from law firm Shakespeare Martineau.
However, there are hopes of a recovery in the sector given the new Labour Government’s plans to ramp up house building and infrastructure projects.
Click here to download our free guide on finding and buying distressed businesses and assets
Exceptionally successful owner-operated company located in central Scotland, specialising in a niche domestic refurbishment sector with remarkable growth. This specialist operation has experienced extraordinary trading growth, driven by a tight-knit,...
An opportunity to acquire a bespoke kitchen design and installation company that which has forged an immaculate reputation with a wealth of five-star customer testimonials since it was established in 2016.
This established construction firm has been trading since 2019 working with some well-known developers from: Red Row, Barratt, Taylor Wimpy, Bloor Homes, Lovell Homes and Galliford try PLC to mention a few and on the national retail client list from:...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.