Mon, 17 Jul 2023 | ADMINISTRATION
Norman and Underwood Group, an architectural roofing, cladding and glazing specialist based in Leicester, has fallen into administration. The company, which dates back to 1825, has appointed joint administrators from Begbies Traynor, according to The Gazette.
The company had filed notices of intention to appoint administrators last month as it sought to find a buyer. On July 13, the company appointed administrators, with Begbies Traynor also appointed to oversee the administration of Norman and Underwood Ltd, Norman & Underwood (Glazing Systems) Ltd, Norman & Underwood Group Ltd and Norman & Underwood Conservation Ltd.
Norman and Underwood originally specialised in general plumbing and glazing, before expanding its business to provide architectural and structural glazing, metal roofing and cladding, as well as building conservation solutions such as stained-glass restoration and leadwork.
The firm has worked on projects for several iconic buildings, including St Paul’s, Westminster Abbey, Chatsworth House and Hampton Court Palace. The company has also completed a number of high-profile international contracts, including the British Embassy in Monaco and the Dome of the Rock in Jordan.
In the group’s last available accounts at Companies House, for the year ending December 31 2021, it reported operating profit of £115,019 and pre-tax profits of close to £70,000. At the time, its fixed assets were valued at £4.7 million and current assets at £2.5 million, with total equity standing at £5.9 million.
The company's administration comes amid soaring distress in the UK's construction sector, which is the sector worst affected by the UK's rising insolvency levels.
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