Trent Concrete fails while working on Olympics

Aaron Morby 12 years ago
Share

Olympic village precast panel specialist Trent Concrete has called in administrators.

KPMG administrator Richard Philpott is understood to be in crunch talks with the Olympic Delivery Authority about securing the supply contract for the athletes village.

Trent holds two partially completed long term contracts on the massive scheme to supply pre-cast concrete.

The outcome of these talks will determine the fate of the company in coming weeks and whether the 2012 construction programme can continue unhampered.

Trent is the first major firm to collapse while working on the London 2012 Olympic site.

Presently there are no redundancies planned among the 150 staff and the administrators aim to trade the business until a buyer is found.

KPMG said attempts to find a buyer, would depend on the continued support of customers, suppliers and employees.

“We are optimistic that trading on in receivership will be viable with stakeholder support and we anticipate considerable interest from potential buyers of the business as a going concern,” said Philpott.

During the past 12 months Trent suffered a significant drop in turnover, leading ultimately to the cash pressures and trading difficulties.

The business has historically been engaged in long-term contracts and its pipeline of future work has suffered from the inherent uncertainties surrounding various public sector projects, particularly the cancelled Building Schools for the Future programme.

Trent specialised in bespoke concrete architectural cladding and structural precast concrete for many of the UK’s most prestigious construction projects.

One of its other recent jobs included Westminster College, where it fitted 1,500m² of white reconstructed stone cladding and 2,000m of projections, cills and additional features.

An ODA spokesperson said: “Trent are supplying concrete panels to two of the 11 residential blocks in the Olympic Village site.

“The majority of concrete panels required on the Village have already been delivered to site, with many of the other remaining panels already manufactured.

“Discussions are underway with the Administrator and Trent’s senior team and this will establish the course of action required to arrange the manufacture of any remaining panels. We are confident that overall construction progress on the Village will not be affected.”

Latest news

Investment giant buys Bristol M&E contractor

RDCP Infrastructure acquires Avon Combined Electrical Services
22 mins ago

Demolition start for £50m Farnworth town centre rebuild

Caddick Construction is tipped for main works due to start in the spring
1 hour ago

L&G Modular strikes deal to build 1,000 affordable homes

Modular homes business teams up with Hampshire's Vivid housing association
1 hour ago

Former Erith operations director joins John F Hunt

Scott Exell named new operations director at demolition specialist John F Hunt
9 hours ago

Green light for £135m Leeds twin tower resi scheme

Construction to start in New Year on 500 build-to-rent apartments
17 hours ago

Mace hits 1m tonnes carbon saving target for clients

Present work pipeline betters 2026 carbon emission saving target
12 hours ago

Plans in for £40m surf park at former Kent colliery

Seahive surf lagoon and health resort will be built near Deal
1 day ago

Crushed demolition worker vows to return to industry

Shannon Brasier hoping to return to construction following horror accident
1 day ago

Mount Anvil to start 900-home North London estate rebuild

Planning approval paves way for Barnsbury Estate rebuild in Islington
1 day ago

Green light for major laboratory campus in Cambridge

Developer BioMed to tender first building on 600,000 sq ft lab complex in the New Year
1 day ago

Belfast firm signs the biggest work deal yet under Project Gigabit

Fibrus to hook-up rural Cumbria to lightning-fast broadband under £108m deal
1 day ago

McLaren wins Leeds logistics park contract

Work to start imminently on warehouse complex for Firethorn Trust
2 days ago

Work restarts on £683m waste power plant after site death

Construction suspended for a week of investigations following fatality
2 days ago

Demolition starts on £135m Wigan Galleries scheme

Contractor BCEGI starts work on project to redevelop Wigan town centre
2 days ago

Amey CEO to step down following private equity buyout

Amanda Fisher to leave once business is transferred to new owners
2 days ago

New body set up to vet plant operator card schemes

Contractor trades bodies unite to tackle competency concerns over plant operator skills cards
2 days ago

Kier leads switch to hybrid battery generators

Battery units work alongside smaller generators cutting run times by nearly 60%
2 days ago

Plans in for first Leeds co-living scheme

Watkin Jones submits plan to convert old Direct Line HQ into 230 studio flats
2 days ago

Demolition worker crushed by excavator

Court hears 20-year-old woman was left with "life changing injuries"
3 days ago

Government pays £700m for 50% stake in Sizewell C

New body, Great British Nuclear, will be set up to develop pipeline of nuclear projects
3 days ago

Costain wins Heathrow Airport asset renewal deal

Firm takes early contractor involvement role in Terminal 2 baggage handling upgrade
3 days ago

Worker killed on £683m waste power plant site

Fatal collision involving heavy goods vehicle on giant north London site
3 days ago

HS2 JV shifts four Wembley Stadiums of earth in record time

EKFB team digs and hauls 15 million cu m of muck in 20 months
3 days ago

Milestone wins £300m Wiltshire highways upkeep

Ringway will hand over to Milestone in March next year
3 days ago

Low-risk business model helps Renew post record results

Renew reveals latest acquisition with £15.6m purchase of water specialist Enisca
3 days ago

London Albert Embankment hotel towers approved

Two separate hotels rising to 26 and 29 storeys approved
3 days ago

Keltbray names new director of strategic engineering

Tim Lohmann takes up newly-formed role to drive innovative engineering solutions
3 days ago

Go-ahead for £200m lithium refinery on Teesside

Work to start next year on Europe's first lithium hydroxide processing plant
4 days ago

HS2 agency workers paid the wrong wages

Payroll software problems leave workers out of pocket
4 days ago

Electric car whizz joins O’Rourke

Contractor looking to learn tech lessons from other sectors
4 days ago

Contractor services