Tue, 10 Aug 2021 | ADMINISTRATION
Wolverhampton-based contractor AM Griffiths has ceased trading after falling into administration. The 122-year-old firm was reportedly hit by issues including the rising prices of raw materials and Covid-19 related uncertainty. The Birmingham office of Leonard Curtis is handling the administration process.
The company worked on private and public sector contracts and built many prominent sites in the Wolverhampton area, including Carillion’s former headquarters and the Severn Hospice in Shrewsbury.
In its most recent accounts at Companies House, for the year ending March 31 2020, the company said that it had continued to be impacted by Brexit and that the commencement of several new projects had been deferred while clients sought reassurances regarding economic conditions in the construction sector and the UK more widely.
In the same documents, the company said that these delays had also coincided with “exceptionally inclement weather” in the West Midlands region, which had led to delays on several sites and negatively impacted its production levels for the final quarter of the year. However, the company also reported that, at the outset of the Covid-19 pandemic, it had “a full order book for the remainder of the calendar year”.
At the time, the company reported post-tax profits of £305,188 (down from £752,996 the previous year as a result of the aforementioned factors) on turnover of £30.1 million. At the time the company’s fixed and current assets were valued at around £8.1 million, with total equity of £2.3 million.
This most recent collapse comes following a series of high-profile administrations in the UK construction sector, which is being impacted by a variety of factors relating to issues including Covid-19 and Brexit.
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