Pochin Construction goes into administration

Aaron Morby 2 weeks ago
Share

Most of the Pochin’s Group was placed into administration on Monday putting 120 jobs at risk.

Administrators from Grant Thornton UK LLP are now in charge of eight divisions of the group – including the main trading entities of Pochin’s Ltd, Pochin Construction Ltd and six other subsidiaries.

The Cheshire based firm was founded in the 1930s and was a familiar name on sites across the North West.

Grant Thornton said the business had been dragged down by legacy issues from earlier contracts which “became too great a burden leading to difficult trading conditions.”

The new management team explored a number of options to keep the company afloat including injections of significant levels of capital from shareholders and the sale of the group’s property portfolio.

But Grant Thornton said: “Despite these efforts, the impact of the challenges have proven insurmountable and the difficult decision was reached by the directors to place a number of entities in the group into administration.

“This includes the main trading entities of Pochin’s Ltd, Pochin Construction Ltd and six other subsidiaries.”

Joint administrator Sarah O’Toole said: “Whilst it is very early days, this may result in a number of redundancies and the companies ceasing to trade, the joint administrators will continue to review options to ensure the best possible outcome for creditors.”

The Enquirer was contacted by a series of stunned subcontractors on Monday morning who had been turned away from sites.

Last year Pochin’s construction arm lost £6.2m on £50m revenue after being hit by a single loss-making contract in Manchester.

It is understood to have been in talks with developer De Trafford over final settlement of the City Gardens residential scheme, which is now finished.

Latest news

VolkerWessels UK on track to top £1bn turnover

Group margin hits 3% as UK business enjoys record order book of £1.4bn
2 days ago

Lendlease unveils new construction boss

Company veteran Simon Gorski takes over from Neil Martin
2 days ago

Kier to start work on £50m new home for Durham council

Contractor promises major boost to local supply chain
2 days ago

Willmott Dixon to complete Pochin Stoke site

Replacement found for collapsed contractor on £37.5m scheme
2 days ago

Britain’s oldest building company strikes deal with creditors

R Durtnell agrees debt repayment plan with suppliers owed more than £8m
2 days ago

Worker jailed for tax dodging on major London sites

Self-employed Bournemouth builder sentenced to 30 months for evading £110,000 in tax
3 days ago

Bid race starts for £40m M1-A6 link road

Central Bedfordshire Council says project could start in March 2020
2 days ago

Castle Building Services bags £6m M&E package

Early appointment by Bowmer & Kirkland alllows plenty of pre-site start design time
2 days ago

Bright ideas from Balfour Beatty staff save £4m

"My Contribution" programme sees staff suggest 2,600 ways to improve efficiency
3 days ago

Boost your online presence – join the Enquirer Directory

Site for suppliers and buyers showcases products, services and latest stories
1 year ago

£120m plan to replace Liverpool flyover with tunnel

Plan lodged to demolish flyover and replace it with a dual-lane tunnel
3 days ago

B&K checks in with Manchester “Jenga” hotel

Work to start next month on 275-bed Piccadilly Station hotel
3 days ago

Radisson backs £5bn Kent theme park with hotel plan

Hotel giant takes stake in project as backers look to confirm construction start date
4 days ago

Super safe scaffold screen could slash site costs

System in use at Twickenham station site boosts safety and saves money
3 days ago

McMullen lands cladding package at King’s Cross

Specialist to deliver striking facade for main contractor BAM
3 days ago

Balfour results can help “restore confidence” in construction

Boss Leo Quinn says latest numbers show contractors can deliver
4 days ago

HS2 relaunches race for £300m tunnels fit-out

Latest plan for M&E and ventilation bid race to be detailed at London industry day next month
4 days ago

Midas Group struggles to raise margin above 0.25%

Regional builder rejigs operation to restore golden touch
4 days ago

Polish steel entrepreneur buys Builders Beams

Steelo swoops to save 45 jobs at fabricator
5 days ago

Spanish contractor seals £180m Aberdeen waste plant job

Acciona Infrastructure will deliver full turnkey package on Ness Energy Project
4 days ago

Kier and Interserve secure £100m NHS framework places

North East NHS Trust picks trio of firms for estate improvement programme
4 days ago

Workers given mental health monitors to wear

Spencer staff hit blue button on wristband when they are feeling anxious
5 days ago

Contractors advice wanted on £400m concrete road renewal deal

Highways England wants to talk to potential bidders about procuring resurfacing framework
5 days ago

Silvertown Tunnel award suspended after challenge by losing bidder

Transport for London forced to suspend summer contract confirmation after legal action
6 days ago

Colas UK targets growth after trading loss

Colas chief sets out business turnaround plan to double in size
5 days ago

Interserve fit-out boss joins Morgan Lovell

Matt Bray takes head of contracts role at Morgan Sindall office fit-out firm
5 days ago

Subcontractors wanted for £400m Dounreay decommissioning

Framework contractors to host suppliers day next month: Register now
5 days ago

Henry Boot buys social housing contractor

Sheffield developer and contractor buys controlling stake in Starfish Commercial
5 days ago

Caledonian lands £10m modular student digs deal

Offsite specialist will help cut build times by half at Hereford scheme
5 days ago

Money owed to Lakehouse creditors leaps to £27m

Investigations continue into controversial collapse
6 days ago

Contractor services