Kent groundworks contractor goes into administration
[ad_1]
Groundworks specialist Ellicon Construction has long gone into administration with the decline of all 52 employment.
The Isle of Sheppey centered business is now in the fingers of directors from Quantuma Advisory Ltd.
Quantuma claimed the organization was “declared bancrupt immediately after becoming unable to meet up with legal responsibility payments due to contractual difficulties and the knock-on outcomes of Covid.”
Operate has stopped on its a few stay internet sites and the firm’s headquarters shut.
Duncan Conquer, joint administrator, mentioned: “Family-operate enterprises are the lifeblood of the UK’s overall economy, and it is regretful that Ellicon Building is not able to proceed to operate.
“We were being capable to obtain choice contractors to guarantee its shopper initiatives will be delivered to completion, but comprehend that a number of former staff will be offered employment with these contractors.
“In the situation, we will be undertaking our best to maximise recoveries for lenders.”
Latest accounts submitted at Corporations Property for the 12 months to May 31 2020 show Ellicon experienced a turnover of £10.6m producing a pre-tax earnings of £338,000 and used 86 staff members.
The family members-run agency experienced been in business enterprise because 20o2 and worked for a host of main contractors and builders throughout the south east.
Ellicon had its have in-residence plant fleet of excavators ranging from 1.5 to 20 tonnes, forklifts, dumpers and compact resources.
[ad_2]
Source url