Tolent Construction Limited (02450574): administration
- Status
- In administration
- Administration began
- 2023-02-13
- Administrators
- James Ronald Lumb, Howard Smith
- Administrators' firm
- Interpath Advisory
- Formerly
- Rushpath Builders Limited
- Incorporated
- 1989-12-08
- Location
- Newcastle upon Tyne
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- HMRC / tax arrears
- Sustained trading losses
- Credit insurance / supplier credit withdrawn
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Weather / natural events
- Loss-making contracts / project overruns
From the administrators' statement
The Company was incorporated on 8 December 1989 and principally operated asa construction and building company with two main areas of operations: (1) a multidisciplined building contractor, and (2) facilities management for industrial and chemical businesses. The Company also acted as a holding company for three Group entities, being RPL, TLL and TSL, and held the Company’s largest contract at Milburngate, Durham.
The Company’s key assets on appointment were its 16 live construction contracts across the North East of England, Teesside and Leeds and its “Industrials business” based in Teesside which undertook facilities management and major projects for industrial and chemical businesses.
The Company employed 356 members of staff, many of whom worked on projects on behalf of other Group entities. Immediately on our appointment 270 employees were made redundant with 86 retained to support various workstreams across the Group. All 86 retained employees have since been made redundant.
Administrators' statement of proposals (2023-04-13) · Companies House register