Trent Concrete fails while working on Olympics

Aaron Morby 14 years ago

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

Build problems plunge Crest Nicholson to a £31m loss

House builder unearths more defects on completed sites
5 mins ago

Rebooted Amey lifts contract win rate to 1 in 3 bids

Amey chief says firm exceeded expectations in first year under new owners
56 seconds ago

BAM Nuttall fined £2.3m after worker drowned

Court hears how series of safety failures led to tragedy
13 hours ago

OCU buys Scottish civils contractor RJ McLeod

Deal takes multi-utility infrastructure specialist revenue to over £800m
22 hours ago

£220m plan to restore secret wartime tunnels approved

Tunnels under High Holborn to become cultural exhibition space
21 hours ago

Galliford Try wins £69m Scottish school job

Deal sealed on Paisley Grammar School project in Renfrewshire
1 hour ago

Balfour wins design for £690m Skye transmission job

Main work contract for 137km power line to be awarded later this year
1 day ago

Student and resi developer Fortis goes under

Cheshire based developer follows construction arm into liquidation
1 day ago

Construction output falls for third month running

Heavy rain and strong winds blamed for sharp fall in activity in April
1 day ago

Plan in for Leeds 27-storey block of flats

390 flats planned at former Morgan Sindall office site
1 day ago

Firms readied for £1.5bn Parliament estate upkeep deal

Invitation to tender due to go out next month
1 day ago

Amey switches kit supplier

Deal with HSS was worth £24.5m a year to rental specialist
1 day ago

Track workers scatter to avoid runaway rail trolley

Track trolley careers 1km towards work site
1 day ago

Direct delivery model pays off as Murphy profit soars to £67m

Group operating margin jumps from 3% to 5% in record year
2 days ago

Ex-Galliard boss to lead Battersea next building phase

Don O’Sullivan joins as plans advance to start phase 3C of power station redevelopment
2 days ago

£100m Digbeth 33-storey flats job out to bid

483 flats will be delivered for Clarion housing association
2 days ago

Van Elle fined £233,000 after piling rig kills driver

Court hears how tragedy was caused by poorly maintained plant
2 days ago

Renew buys utilities contractor Excalon

Infrastructure giant expand into electricity transmission market with £26m deal
2 days ago

Planning for new homes plunges to record low

Home builders call for urgent action from incoming government
2 days ago

JTRE starts £400m 21-floor London tower scheme

Office block and 64 affordable homes to be built at 220 Blackfriars Road site
3 days ago

R G Carter construction profits up despite 24% revenue fall

Selective client choice help profit jump to £6m from £1m previously
3 days ago

Refurbs power London office work to record high

London Office Crane Survey office work starts exceed 4m sq ft for record third quarter
3 days ago

Knight Build owed money for work on UK’s poshest street

Contractor takes legal action over unpaid bills on new luxury flats complex
3 days ago

Winvic ranks top of May contracts league

Large residential scheme in Leeds caps strong haul of orders
3 days ago

Bid race starts for up £95m repairs to PFI hospital

Roseberry Park Hospital in Middlesbrough hit by serious defects
3 days ago

Building Safety changes slow down construction recovery

Confused market contains paradox of falling workload and contractors claiming they are too busy
3 days ago

Wates rejigs businesses as veteran leader retires

Wates Construction Group MD Paul Chandler to retire at end of year
6 days ago

Scaffolder dies from chemical burns

Tata Chemicals Europe fined £1.125m after death of Altrad scaffolder
6 days ago

M&E firms warn of persistent skills shortages

Shortage of adequately skilled workers blamed for slow growth
6 days ago

Southern Water names consultants for AMP8

Seven firms to share £240m in professional services spend
6 days ago

Contractor services