Lakehouse Contracts applies for administration

Grant Prior 9 months ago
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Lakehouse Contracts has applied to the High Court for an administration order.

The Enquirer has seen documents detailing the application which is understood to have been granted yesterday.

A number of subcontractors are known to have been pursuing claims against Lakehouse Contracts over unpaid bills.

Insolvency specialist CMB Partners is now understood to be in charge of the company.

Lakehouse contracts was sold last summer for £500,000 to a company called Mapps Group Limited.

The ex-owners are rebranded company Sureserve who set aside £2.5m in their latest results to cover possible claims on contracts carried-out by their divested business.

The £2.5m is “for costs of claims under parent company guarantees and bonds which are considered probable following risk assessment of all outstanding parent company guarantees and bonds.”

One supplier said: “Something very odd has gone on here for the business to apparently go to pot within months of the PLC off-loading it.”

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