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Worcester roofing and cladding contractor enters administration
Conrad Beighton and Joph Young from Leonard Curtis have been appointed Joint Administrators of Britannia Site Solutions (14th September 2022).
Based in Hallow, Worcester, Britannia Site Solutions is a roofing, cladding and façade contractor and had been trading since mid-2011.
Since the pandemic the company had been impacted by increased supplier costs, projects being put on hold and significant delays in receiving payments due from major customers severely affecting cash flow.
The notice of intention to appoint administrators was filed at court on 2nd September 2022 to enable an accelerated merger and acquisition process to take place but, unfortunately, a sale of the business as a going concern was not possible.
The company has ceased trading with all 18 employees, regrettably, made redundant.
Conrad Beighton commented: We were hopeful of securing a purchaser for the business, but there was no interest of any significance as most of the contracts had already been terminated by the main contractors. As a result there was little value in the residual assets of the company.
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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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