Allston Construction goes bust owing £8m

Grant Prior 8 months ago
Share

Kent based contractor Allston Construction has ceased trading owing trade contractors and suppliers £8m.

Financial experts at Leonard Curis are handling the liquidation of the company following a creditors meeting last week.

Documents seen by the Enquirer show Allston went down owing £7.8m to a raft of trade contractors.

The company was run by director John Gulston and was based in Rochester.

Last accounts showed it had a turnover of £11m in the year to September 2014 when it made a gross profit of £1m.

The firm had 20 employees and ceased trading in late December.

The company was originally called Brett Construction when it was formed in 2007 but changed its name to Allston in January 2014.

It is understood Allston ran into trouble on housing jobs in Bethnal Green, Rottingdean and Canterbury and was forced to leave site due to cost over-runs.

The Leonard Curtis report said: :”The director attributes the failure of the company to: historic issues relating to contracts, cash flow issues owing to difficulties in obtaining debtor monies, inability to obtain new work despite continued efforts and inability to obtain further working capital.”

 

Latest news

Tube maintenance taken away from Amey in bid to save £80m

Transport for London to take work back in-house on Jubilee, Northern and Piccadilly lines
6 hours ago

Brookfield submits plan for 37-storey London city tower

Building work could start in summer 2018 after six-month demolition phase
5 hours ago

Chinese cladding contractor facing HSE asbestos probe

Yuanda UK under spotlight over imported products
12 hours ago

Carillion profit soars to £84m from support services

Blacklisting compensation to cost Carillion £10.5m
10 hours ago

Just one week left to vote for best in construction

More than 10,000 votes in already for Enquirer awards: Book your places now
12 hours ago

Costain profits dented by further losses on waste PFI

£11.4m hit on completing Manchester waste PFI plunges natural resources division into loss again
11 hours ago

Robertson starts work on £333m Aberdeen conference centre

Green light for development by Henry Boot and Aberdeen City Council
11 hours ago

Interserve wins £17m York University project

Piazza learning centre will be built on University's east campus
12 hours ago

Revenue swoops on tax dodging tradesmen

Operation Dobbin catches 17 fraudsters to help level playing field for honest workers
12 hours ago

Lendlease wins £200m contract to build Versace tower

50-storey luxury scheme designed in partnership with famous fashion house
2 days ago

BAM Construct nearly doubles profit to £13m

Mainstream building contracting business margin edges up to 0.6%
1 day ago

Balfour wins £42m London Nine Elms student tower

33-floor student tower kick-starts wider Vauxhall Square scheme
2 days ago

United Living looking for new subbies and suppliers

Meet the Buyer event in Northampton next week: Register now
1 day ago

Former Skanska boss to head Galliford Try’s HS2 team bid

David Blackburn leads Galliford Try/Hochtief/Dragados consortium bidding for major HS2 contracts
1 day ago

HS2 shortlists consultants for phase two

Bechtel, CH2M Hill and Mace/T+T in hunt for seven-year development partner role
1 day ago

No women enter Construction Manager of the Year awards

All 86 of this year's finalists are men: Full list
2 days ago

Kier bags £5bn hat-trick of major construction frameworks

Cambridge University, Procure 22 and Gatwick Airport frameworks promise work boost
1 day ago

Father of seven killed in skylight fall

Two roofing contractors and a director prosecuted following tragedy
1 day ago

Wates signs £64m Norwich food research centre deal

Price agreed for landmark Quadram Institute project
2 days ago

Eurocell enjoys post Brexit sales surge

UPVC products specialist sees 8% underlying increase in sales since EU referendum
1 day ago

Costain jv snaps up last major Crossrail contract

£26m track maintenance facility will be built in Plumstead
2 days ago

Ramboll hires Arcadis infrastructure boss

Mathew Riley takes over as MD of Ramboll UK
2 days ago

Brookfield Multiplex £150m hospital delayed by six months

Collapse of concrete and brickwork firms hits Edinburgh hospital job
3 days ago

Gordon Dunne takes 20% stake in new Keltbray concrete firm

Former Dunne boss appointed managing director at Keltbray Structures
5 days ago

Bulgarian contractor hit with huge safety fine

£500,000 penalty after workers caught balancing on forks of a telehandler: Photos
3 days ago

Skills shortages hitting quality of construction work

Workmanship suffering as budgets are busted by lack of skilled labour
3 days ago

ISG fit-out boss joins Garenne Interiors

Peter Kilby now heads Garenne Interiors & Refurbishment UK
2 days ago

£30m Aberystwyth Innovation and Enterprise Campus out to bid

University research hub project out to bid after funding deal
3 days ago

Vinci wins £35m Cardiff student accommodation job

Developer Fusion Students plans 686-bedroom complex at former Cardiff Metropolitan University Howard Gardens site
2 days ago

12-year-ban for scaffold boss who ripped-off suppliers

Suppliers stung for more than £250,000 in four months
5 days ago

Contractor services