Wed, 09 May 2012 | ADMINISTRATION
Building firm UBC Group has entered administration after being hit hard by the downturn in the construction industry.
The business, based in Scotland, has appointed Zolfo Cooper as its administrators. Elizabeth Mackay, joint administrator, explained that the business will continue to trade while “all possible options” for its future are explored. This could include the sale of all or sections of the business.
Ms Mackay added: “Working with all stakeholders including employees, customers, suppliers and regional and national governments, our priority now is to stabilise the business and fully assess the financial position such that we can identify the best possible route forward under what are clearly difficult circumstances.”
The building firm employs 277 staff and has an annual turnover of around £31 million across its group of businesses, which includes UBC Holdings Ltd, Wyvis Building Services Ltd, Mardon Project Services Ltd and others.
It has bases around Scotland in busy cities such as Glasgow and Inverness, but also in more remote locations, such as Stornoway and South Uist.
Seumas Pedrana, managing director of UBC, commented on the administration: "The directors have looked at every possible option to avoid administration but it became inevitable because of the general downturn in the building sector and the inability of some companies to pay us."
Considering buying a construction business? Read our guide on the process.
This independently run Heating Engineers delivers a variety of services to a wide range of clients in its local area.
Established over 15 years this care provider has become very well known in the local area for the high quality of care and companionship they provide to their clients.
The business was founded by the current shareholders and has delivered strong and sustainable growth over the year. The company strives to provide clients with a unique and bespoke service, tailored to the individual’s specific needs and preferences.
02
|
May
|
Two country hotels sold following confidential marketing process | COMMERCIAL PROPERTY
Two country hotels in the South East of England have been so...
02
|
May
|
Two South East accountancy firms agree to merge | MERGER
Two accountancy firms based in the South East have announced...
02
|
May
|
Legal services group completes eighth acquisition | BUSINESS SALE
Acquisitive legal services group Lawfront has completed a de...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
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.