Bardsley Construction Limited (00800556): administration
- Status
- Administration ended
- Administration began
- 2019-12-19
- Administrators
- Sarah Megan Rayment
- Administrators' firm
- Kroll
- Formerly
- Roland Bardsley (Builders) Limited
- Incorporated
- 1964-04-13
- Location
- Manchester
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- Sustained trading losses
- Loss-making contracts / project overruns
From the administrators' statement
The main reasons for the Group's failure was as a result of contractual issues in late 2018 on three major projects which negatively impacted revenues by c£3.2m, ultimately resulting in trading losses of c£2.6m being accrued for the year
in addition to the above, new work streams had been slow in the first half of 2019 with several opportunities turned down due to the nature and risk related to them. However, a number of pending tenders were won in the months of October and November 2019 which strengthened the order book for 2020 However, as the newly won contracts were not planned to start until the New Year, there was a gap In the cash flow that further impacted the Group’s balance sheet.
coe ta DUFF& PHELPS
Administrators' statement of proposals (2020-02-14) · Companies House register