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Hull-based construction business goes into administration
Philip Deyes, Sean Williams and Andrew Poxon, of Leonard Curtis Business Rescue & Recovery, were appointed Joint Administrators of P.D.R Construction Limited (The Company) on 11 January 2022.
The Company is a long-established privately owned main contractor within the construction sector based in Hull, East Yorkshire.
All trading operations have ceased and, regrettably, all staff were made redundant shortly prior to the Joint Administrators appointment.
The Joint Administrators will be seeking expressions of interest for the sale of the construction contracts ledger, including active and completed sites where applications for payment and/or retention balances remain outstanding.
As part of this sales process, the Joint Administrators will liaise with relevant JCT Contracted Employers in relation to all part completed sites.
An additional marketing exercise will be undertaken by the Joint Administrators seeking buyers for separate land property assets owned by the Company.
Joint Administrator Phil Deyes said: The Company has experienced challenging market conditions including the timely delivery of a number of recent projects, resource issues within the sector principally as a result of the Covid-19 pandemic, and contractual disputes with private clients including a recent significant lost adjudication. New work opportunities have been delayed as a result of the uncertainty in the economic and political environment causing a significant fall in turnover. The company had fallen behind with payments to its creditors and sub-contractor supply chain, culminating in a winding up petition being served on the company on the 4th of January
Parties interested in the construction ledger are directed to https://www.leonardcurtis.co.uk/businesses-for-sale/p-d-r-construction-limited-in-administration
Leonard Curtis Business Rescue & Recovery is part of the Leonard Curtis Business Solutions Group.
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Reach Commercial Finance Limited. Registered in England no 09056450. Leonard Curtis is a trading style of Reach Commercial Finance Limited. Leonard Curtis is a broker not a lender and is independent with access to the whole of market. We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. Authorised and regulated by the Financial Conduct Authority FCA no. 753686. Registered with the Information Commissioner’s Office reference ZA069234
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