Genone Construction Ltd (04697933): administration
- Status
- In administration
- Administration began
- 2026-06-01
- Administrators
- Benjamin Stanyon, Adrian Paul Dante
- Administrators' firm
- Opus Restructuring
- Formerly
- MCD Construction Limited; MCD Construction (Group) Limited; M C Design & Carpentry Limited
- Incorporated
- 2003-03-14
- Location
- Milton Keynes
- Industry
- 41100 Development of building projects
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Loss-making contracts / project overruns
- Supply chain disruption
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Bad debts / customer insolvency
From the administrators' statement
The Company's financial difficulties emerged during the latter part of 2025 and were principally attributable to delays and disputes affecting a number of key projects. In particular, the Company was owed substantial sums under an adjudication award in relation to one project, in respect of which a payment plan had been agreed, whilst delays to certification and payment on another project adversely affected cash flow. In addition, disputes arose regarding valuations and the customer issued pay less notices alleging that the Company had overcharged.
The Company's financial position was further impacted by difficulties encountered on a separate project with an original contract value of approximately £2 million. Although the initial works had been completed successfully, and earlier applications had been paid in accordance with the contractual terms, certified sums due from October 2025 onwards remained unpaid following completion of the project in March 2026. During this period, the debtor repeatedly acknowledged the outstanding liability and provided assurances that payment would be forthcoming, with anticipated payment dates being deferred on a number of occasions whilst discussions continued with prospective funders.
As cash flow pressures intensified, the directors undertook a number of measures in an effort to preserve the business and maintain trading. These measures included reducing overheads, negotiating payment arrangements with suppliers and subcontractors, obtaining additional funding facilities, introducing personal funds into the business and maintaining ongoing dialogue with creditors whilst continuing to pursue the recovery of outstanding debts.
Administrators' statement of proposals (2026-08-06) · Companies House register