Howard Smith and David Costley-Wood were appointed Joint Administrators of Cruden Group Limited, Cruden Construction Limited and Cruden Property Services Limited (‘The Group’) on 31 July 2020.
Based near Warrington and employing 126 people, the Group operated within the construction and property services sectors predominantly across the North West of England.
Following losses on a number of contracts and additional costs caused by the COVID-19 pandemic, due to contract delays, the directors took the difficult decision to place the company into administration.
Regrettably, upon appointment the administrators made circa 100 employees redundant, with the remaining staff being retained to support the wind down of the business. Agents have been appointed to realise value in the Group’s construction and maintenance contracts, alongside other tangible assets including a freehold property.
Howard Smith, associate partner at KPMG and joint administrator, said: “While trading had been challenging for some time, the impact of COVID-19 was the final straw. Discussions to sell the business did not progress, leaving no option but to close.
“Our priority over the days ahead is to support those members of staff who have been affected by redundancy, providing them with any assistance they need.”
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