Lakehouse subbies plan showdown with Sureserve bosses

Grant Prior 3 months ago
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Subcontractors owed millions by Lakehouse Contracts are planning a showdown with bosses at former owner Sureserve.

Lakehouse went into administration and ceased trading last week following s string of complaints from suppliers over late payment.

The demise of the company follows a turbulent seven months since it was sold last August 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.”

Sureserve is holding its Annual General Meeting on Tuesday and the Enquirer understands former subcontractors are planning a showdown with company bosses.

One subcontractor said: “We are on the hook for a lot of money here and want to know what exactly has gone on.

“We’ve bought a few shares in Sureserve and will be turning up on the day to demand answers.”

Another former company source said: ” When Mapps took over they found nothing in the bank account and suppliers hadn’t been paid.

“Lakehouse owe millions and that could mean a lot of subcontractors going out of business through no fault of their own.

“Sureserve issued parent company guarantees and bonds on a series of jobs which weren’t transferable so they are facing payouts.”

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