Warrington construction company enters administration

Wed, 20 Mar 2019 | ADMINISTRATION



A prominent construction business headquartered in Orford Green, Warrington has collapsed into administration due to a decline in trade.

Clovemead Limited has been forced to call in Manchester-based insolvency specialists Poppleton & Appleby to handle the administration, with partners Charles Brook and Allan Cadman appointed as joint administrators.

Amongst some of the company’s construction projects to be hit by the administration is the development of the Countess of Chester Hospital’s new A&E extension.

However, as Clovemead’s management team appointed administrators at an early stage, it is likely that the company’s trading operations and work on existing projects will continue whilst a buyer is sought for the material assets of the business.

Its fuel system and signage division have already been sold.

Cadman said: “We are proud to have been selected to assist such a well-regarded company in achieving such a positive outcome. Although unable to preserve all jobs, we are confident that the outcome will assure many long-serving staff of future employment and retain critical skills within the region.

“Clovemead is a good example of the kind of results that can be achieved with early intervention and a willingness to explore commercial prospects in a bespoke manner.

"This is perhaps one of the finest examples of our own specialisms, and it has been a pleasure working with the company and its other advisers and senior personnel in this exercise. We are grateful for the trust, support and commitment of all at Clovemead and their clients that we have received.”

Click here to view the Clovemead Limited listing for full details.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Construction Company
Leeds, West Yorkshire, Yorkshire and the Humber, UK

Highly profitable Family Run Business, that has been in the same hands for over 20 years. Operating out of Leasehold premises the business is easily relocatable, many of the subcontractor workforce has been working with the company for many years. Of...

Asking Price: £1,900,000
Turnover: £1,709,427

LEASEHOLD


Buildings & Facilities Management Business
UK Wide

Highly accredited buildings and facilities management business: 95% repeat business from longstanding, secure contracts with blue chip, London-based clients. Significant room for growth: from an existing client base that is displaying increasing dema...

Asking Price: Offers Invited
Turnover: £576,000

Concrete Supply Business
Wymondham, Norfolk, UK Wide

Mobile Concrete Supplies, a family run business that was established in 1980. Our client is now looking to sell due to health reasons. Working with trade and private customers throughout Norfolk, delivering and pouring ready mixed concrete. Their man...

Asking Price: £750,000
Turnover: £2,458,654

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Nov
 

UK government set to approve Cobham takeover | BUSINESS SALE

The British government is poised to approve the $5 billion t...

 
18
 
Nov
 

Kitwave acquires Alpine Fine Foods | BUSINESS SALE

Independent wholesaler Kitwave has acquired Alpine Fine Food...

 
15
 
Nov
 

Carpetright agrees to shareholder takeover deal | BUSINESS SALE

Carpetright has agreed a deal to be taken over by its larges...

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