Paul John Construction (Leicester) Limited (01263399): administration
- Status
- Administration ended
- Administration began
- 2021-05-11
- Administrators
- David Robert Acland, Gary Hargreaves
- Administrators' firm
- FRP Advisory
- Incorporated
- 1976-06-16
- Location
- Preston
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- COVID-19
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Loss-making contracts / project overruns
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 16 June 1976 by John Henry and operated as a civil engineering contractor to the house building sector working on projects nationally. Trading from bespoke leasehold premises on Stephenson Industrial Estate, Coalville, Leicestershire the current board of directors is made up of Jonjo Henry, James Henry, Kieran Henry and Beverley Henry (“the Directors”) and employed 34 staff, John Henry sadly passed away in 2019.
The Company traded successfully for over 40 years recording profits year on year. However, between 2014 and 2017 the business underwent a period of significant growth and expanded its trading activity.
During this period, John Henry was looking to step back from the business and in 2016 Mark Poulson had joined the board. A management buyout (“MBO”) was proposed and a restructure of the management team took place. Unfortunately, John Henry's health deteriorated, and the Henry family decided it was not in the Company’s best interests to proceed with the MBO. In 2018, Mark Poulson left the business and a long-standing employee was promoted to Managing Director (“MD”).
Administrators' statement of proposals (2021-07-08) · Companies House register