Castlehouse Construction Ltd (06830987): administration
- Status
- In administration
- Administration began
- 2023-03-07
- Administrators
- David Antony Willis, Mark David Hodgett
- Administrators' firm
- FRP Advisory
- Incorporated
- 2009-02-26
- Location
- Leeds
- Industry
- 41201 Construction of commercial buildings
Why it went into administration
- HMRC / tax arrears
- Rising costs / inflation
- Loss-making contracts / project overruns
- Sustained trading losses
From the administrators' statement
The Company began trading in February 2009 within the construction industry, covering various sectors including, education, industrial, healthcare & care homes, and residential schemes.
The Company traded profitably prior to the Covid pandemic. This continued during the pandemic with the assistance of CBILS funding from BEF. The Company had become well regarded within the construction industry and therefore achieved a very good credit rating.
However, during the middle of 2022 the Company began to experience trading difficulties. Profitability was compromised by a combination of high inflation, several fixed price contracts becoming loss-making and project over-runs due to labour shortages resulting in various LAD‘s being applied.
Administrators' statement of proposals (2023-05-06) · Companies House register