Administrators from RSM took control of the Kent based contractor earlier this month.
Cardy employed 200 staff and subcontractors with all staff made redundant when the company ceased to trade.
The Enquirer revealed last month that staff has been sent home from sites across the South east.
RSM said “the decision to appoint Administrators was made by the directors of Cardy Construction due to losses and resultant unsustainable cash flow pressure arising on certain contracts.”
Duncan Beat, RSM Restructuring Advisory partner and one of the Joint Administrators said: “We are working with our professional advisors to assess the company’s contracts and sell the remaining assets with a view to maximising realisations for creditors.
“It is anticipated that the company’s unfinished projects will now be completed by local contractors and it is hoped that a number of Cardy staff and suppliers and subcontractors will be reemployed by those contractors.”
Any enquiries from interested parties should be directed to Matthew Vanderman at RSM on 023 8064 6520.