Bristol based Ikon Construction ceases trading

Grant Prior 2 years ago
Share

Ikon Construction has ceased trading with the loss of 50 jobs.

Angry subcontractors have been in touch with the Enquirer after the news started to spread down the supply chain.

The contractor is now in the hands of administrators from FRP Advisory LLP.

Joint Administrator Andrew Sheridan said: “Ikon Construction has been a strong performing business over the years.

“Unfortunately difficulties with a few projects and tighter margins in the industry have led to a persistent cash liquidity issue, resulting in the company entering administration.”

All live construction sites have been secured and the administrators, together with their appointed independent quantity surveyors, are reviewing all options available for each site.

Sheridan added: “Every support is being provided to affected employees and we are working with customers to explore alternative routes to allow projects to be completed.”

Ikon Construction has been in business since 2001 when it was set up by managing directors and founders Pete Hargreaves and Steve Chant.

The firm specialised in industrial, commercial and factory building projects across the south of England.

Latest results filed at Companies House show the firm made a pre-tax loss of £79,186 from a turnover of £36.9m for the year to March 31 2017.

Companies House records also show that Hargreaves and Chant set up a new business called Spec Projects earlier this month and Ikon Property Services and Ikon Civil Engineering Ltd in January.

One trade creditor said: “We are owed a lot of money and know a lot of other companies in the same boat.”

Ikon Construction was also main contractor on a student apartment scheme in Bristol where a demolition worker employed by a subcontractor fell to his death in March.

Latest news

Construction work stops on another Elliot Group tower

Work suspended on £70m The Residence in Salford
22 hours ago

London super sewer passes halfway point

Two further TBMs to be launched this year for east part of 25km drive
9 hours ago

Entire facade of wind damaged tower to be strengthened

Major remedial programme planned after three cladding panels blown-off
2 hours ago

Costain Welsh road job £100m over budget and two years late

Row simmers with Welsh Government about liabilities for cost overruns
23 hours ago

BAM trading steady after second half uplift

Rise in profit at BAM Construction offsets fall at BAM Nuttall civils arm
2 hours ago

Plan in for £30m East London ice rink

Twin pad ice skating centre will be biggest in southern England
11 hours ago

Winvic starts £43m Milton Keynes rental flats tower

Aubrey Place will rise to 18 storeys around a H-shaped footprint
21 hours ago

Boost your online presence – join the Enquirer Directory

Site for suppliers and buyers showcases products, services and latest stories
2 years ago

One million homes with planning permission not built

Council chiefs claim figures show 'the planning system is not a barrier to house building"
23 hours ago

Morgan Sindall profit jumps as revenue tops £3bn

Construction margin edges up to 2.2% in bumper year
1 day ago

Laing O’Rourke nets £500m Everton stadium

Work to start later this year on Bramley-Moore Dock stadium
2 days ago

Scotland’s Whyte Crane Hire collapses

11 jobs axed as family-owned mobile crane specialist calls in administrators
1 day ago

Plans go in for HS2 Old Oak Station

Start of construction at HS2’s London super-hub moves a step closer
2 days ago

Opinion: New immigration rules are unworkable on site

Points based system will create severe shortages and is dismissive of construction trades
2 days ago

New minister for HS2 named

Lancashire MP Andrew Stephenson to oversee HS2 and Northern Powerhouse Rail
2 days ago

Plans unveiled for new £150m film studio in Reading

US giant Blackhall Studios keen to invest in the UK
2 days ago

Government cuts flow of EU construction workers

New points based immigration system means end to free movement of labour to sites
2 days ago

Facade panels blown off 33-storey Manchester tower

Caddick Construction and cladding contractor carrying out checks on building
2 days ago

New Museum of London enabling works to cost £40m

Bidders day planned for complex enabling and structural work package
2 days ago

Summer start for 350-flat Nottingham scheme

9-storey block to be built next to Nottingham station
3 days ago

Millwall FC reveal new stadium plan

Plan for phased expansion of the Den with upper stand tiers
2 days ago

Vistry deal to build 1,400 housing association homes

Aster and Vistry will invest £167m in five new sites
2 days ago

Fusion21 names decarbonising framework winners

Sixty eight firms secure places on £250m energy efficiency framework
3 days ago

Speller Metcalfe wins £14m Devon leisure centre deal

New Tarka Leisure Centre to offer ‘endless ski slope’
3 days ago

Bardsley crashed owing £45m to trade creditors

Manchester builder hit by toxic mix of contractual disputes and project delays
3 days ago

Bardsley hit sends Anders Glass under

Manchester glass merchant and glazing contractor crashes
3 days ago

Green light for UK’s first ‘super slender’ resi tower

Broad Street tower in Birmingham will be less than 10m wide but rise to 37 storeys
4 days ago

Higgins bags £44m job at Shredded Wheat Factory site

Over 200 homes planned for Welwyn Garden City site
4 days ago

Jackson in line for £22m road upgrade

Construction to start this spring after funding agreed for A2300 improvements
3 days ago

Berkeley buys former Civil Service College site

New homes and a retirement village to be built after £50m sale
4 days ago

Contractor services