McArdle in administration

Grant Prior 4 years ago
Share

One of the country’s largest ground engineering and earthworks specialists has fallen into administration.

mcardle

Administrators from PwC are now running McArdle from its main headquarters in Berkshire after being called-in on Monday afternoon.

PwC is trading the business as normal in a bid to sell the firm as a going concern.

One industry source told the Enquirer: “It’s a major shock that such a famous name has been hit like this.”

McArdle is a familiar face on major sites across the country and has been in business for more than 40 years after expanding from its original haulage roots.

Recent major jobs include the Olympics, M25 widening work for Balfour Beatty/Skanska and Berkeley Homes developments across London.

Latest accounts for 2011 show a turnover of £63m with an operating profit of £2m and the firm employs 300 people.

No redundancies have been made to date.

Former owner Jim McArdle sold the business in 2008 to Mercier Holdings.

Mercier Holdings Limited, J. McArdle Contracts Limited, McArdle Waste Services Limited, McArdle Plant Hire Limited, McKenna Plant Hire (Oxford) Limited are all in administration.

Stuart Maddison, joint administrator and partner at PwC said: “As is well known, the construction sector has been significantly impacted by the general economic climate- coupled with an extremely competitive market.

“The group has not been immune from these issues and as a consequence has been suffering from cash flow pressures.

“Although management have worked extremely hard to try and resolve these issues, they were unfortunately unable to do so.

“However, despite the sector challenges, we believe that the group’s core business is strong and as a result we are hopeful that a going concern sale of the business can be achieved.”

 

 

 

 

Latest news

Mayor of London pulls plug on Garden Bridge

Sadiq Khan withdraws backing amid fears of funding gap and rising construction costs
2 days ago

Specialist sites to get £15bn funding boost

Building boom to continue in sectors like student accommodation and PRS
2 days ago

Manchester’s Harbur Construction goes under

More than 20 jobs axed at social housing specialist
3 days ago

Hill on track for £850m turnover target

Rapid growth ranks south firm as country's third largest private house builder
2 days ago

Scape starts race for £1.4bn Midlands framework

Procurement specialist aims to pick firms for 10 lots in Midlands and East of England
2 days ago

Reading FC’s £500m Royal Elm Park scheme approved

Work to start early next year on convention centre and housing next to club’s Madejski Stadium
3 days ago

Construction firms: Show staff and suppliers you care

Entry deadline approaching for a chance to be recognised among the best in the business at the Enquirer awards
2 days ago

Betting Spy: Chelsea title tip paying off

Nearly time to collect on our pre-season punt while Stoke, Spurs and Palace can land a treble
2 days ago

Taylor Wimpey chief takes reins at Countryside house building

Countryside unveils leadership shake-up at house building and partnerships operations
3 days ago

New home registrations soar to 10-year high

NHBC registrations jump 17% in first three months of 2017
3 days ago

AstraZeneca HQ project costs skyrocket

Cambridge HQ project running over two years late and to cost £170m more than expected
3 days ago

HSE inspector numbers fall by 25%

Spending cuts bite at HSE raising union concerns about lack of enforcement
3 days ago

Taylor Wimpey sets aside £130m to settle lease rows

Housebuilder acts to help homeowners hit by ground rents which double every ten years
3 days ago

Styles & Wood targets schools and Government hub refit

Fit-out specialist targets public sector refurb work as profit jumps 26%
3 days ago

Forrest lands twin towers resi deal in Manchester

Contractor lands significant deal as it shifts from traditional maintenance market
4 days ago

CSCS backs “try before you buy” apprentices

Skills body supports on-the -job training with funding for contractors
3 days ago

Heathrow plans offsite revolution for infrastructure construction

Four new logistics hubs to be dotted around country to pre-assemble components for £16bn airport expansion
4 days ago

Interserve and Kier walk away from £100m water deal

Contractors unable to agree a price after six months with Severn Trent Water
4 days ago

Irish duo scoops £85m Cumbria pipeline job

Farrans and Roadbridge joint venture to deliver Thirlmere water mains project
4 days ago

Civils firms win £60m Welsh roads framework

Alun Griffiths, Dawnus, Jones Bros and JN Bentley snare Welsh roads spend
4 days ago

Grosvenor eyes mid-market housing as London chills

Plans for 1,500 homes to be submitted this year for five hectare Bermondsey site
4 days ago

CBI turns to “future leaders” to reform construction

Think tank set-up of rising stars under 35 to generate new ideas
4 days ago

Laing O’Rourke to get new Chairman

Anglo American chief Sir John Parker to join later this year
5 days ago

Talks start on independent appeals against FFI charges

Contractors to get fair hearings over £124-an-hour safety visit charges
4 days ago

Former Liverpool Chinatown contractor goes under

Bilt Group in creditors' voluntary liquidation
5 days ago

Staircase contractor fined £185k after death at O’Rourke site

CMF Ltd fined after worker crushed by falling concrete staircase
5 days ago

British Land submits latest Broadgate revamp plan

Developer to boost shopping space at 135 Broadgate bank building
5 days ago

Newly merged housing group to build 1,200 homes a year

Vivid plans to double new build housing output in Hampshire and Surrey
5 days ago

Willmott Dixon wins £24m Harwell testing lab

Builder returns to Harwell after completing project two years ago
5 days ago

Morgan Sindall wins £30m Soton student digs

Select Property Group has nine schemes in development around the country
5 days ago

Contractor services