Lakehouse went under owing subcontractors more than £9m

Grant Prior 6 years ago
Share

Lakehouse Contracts went down owing more than £9m to subcontractors and suppliers.

An administrator’s report seen by the Enquirer reveals the full extent of the cash black hole at the company which went down in March.

Hundreds of firms are owed money by Lakehouse Contracts which crashed following a turbulent seven months since it was sold last August to a company called Mapps Group Limited.

The ex-owners are rebranded company Sureserve who set aside £2.5m in their latest results to cover possible claims on contracts carried-out by their divested business.

Lakehouse administrator CMB Partners confirmed it is investigating amounts potentially owed by Sureserve.

The report added that a computer virus attack at Sureserve had caused problems earlier this year.

It said:  “Lakehouse Contracts shared the same IT network as Sureserve Holdings Ltd.

“Unfortunately in early January 2019 Sureserve’s IT systems suffered a virus attack with a ransom demand from a third party.

“The effect of the virus attack was the total loss of the company’s accounting systems and all other support service systems throughout January 2019.

“This added to Lakehouse’s problems since the directors could not gain a clear picture of the company’s financial position during this time.”

One subcontrator owed money said: “This just gets murkier and murkier.”

Latest news

Blenheim House payout hopes fade as claims hit £33m

Suggested 10p in the £1 payout for subcontractors now unlikely
10 hours ago

£1.3bn decarbonising and fire safety deals out for bid

South East Consortium starts hunt for firms for housing upgrade work prize
10 hours ago

£30m turnover M&E contractor files administration notice

TNA Electrical makes administration application
11 hours ago

Plan for first big offices at £1.7bn Manchester innovation hub

500,000 sq ft of offices planned at renamed Sister development
10 hours ago

Murphy starts work on £2.5bn Eastern Green Link 1

Giant subsea electricity cable project will take three years to build
10 hours ago

Subcontractors wanted for work across Birmingham

Latest Constructionline event: Register now
10 hours ago

Acheson Construction files administration notice

£53m turnover South West contractor lodges court notice
1 day ago

Hunt for 10 firms to deliver £37bn new hospital plan

Race starts for mega-framework with pledge to spread work among all firms
1 day ago

Springfield to build homes for army of green energy workers

Scottish house builder sells 2,480 plots to Barratt Redrow in strategy switch
1 day ago

Preferred bidder for Stoke city centre scheme

Genr8 Kajima to build Etruscan Square scheme in Hanley
1 day ago

BAM go-ahead for £56m Glasgow leisure centre

Work to start on East Renfrewshire complex later this year
1 day ago

Network Rail fined £3.75m after double track worker death

Michael Lewis and Gareth Delbridge were killed while working on rail line in Wales
4 days ago

Local contractor Castle lands £60m South Shields campus

Work to start this summer on new home for South Tyneside College and South Shields Marine School
4 days ago

GRAHAM wins £100m deal after safety regulator approval

Dyecoats scheme in Leeds becomes one of first to receive Building Safety Act Gateway 2 green light
5 days ago

London Super Sewer now fully connected

10-year construction programme draws to a close
4 days ago

McLaren signs off £125m London Bank over-station job

Developer Helical secures funding deal for 8-storey office job
4 days ago

Work on Labour’s new towns to start by 2029

More than 100 sites put forward for a dozen new town locations
5 days ago

Unite hails 12 years without a site accident at Battersea

More than 4,000 union members have worked on the redevelopment without a single serious accident
4 days ago

Housing orders surge offers hope after 5.2% new work fall last year

Housing orders surged 24% in final quarter of 2024 as developers release schemes
5 days ago

McLaren Property gets new Construction Director

Jon Mangham joins from Equans
5 days ago

BAM Construction suffers £40m loss after Co-op Live setback

Civils business profit surges 24% to £80m
5 days ago

Over 150 jobs axed as J S Wright goes under

Insolvency specialist FRP Advisory goes in at Birmingham M&E specialist
5 days ago

Extra cash found to speed-up safety regulator

Government to spend extra £2m to clear backlog of high rise approvals
5 days ago

Galliford Try lands £63m RAF accommodation deal

Work to start within months at RAF Digby in Lincolnshire
5 days ago

Balfour Beatty wins Trent arched bridge job

Briton Fabricators will build the £13m bridge from prefabricated sections
5 days ago

Goldbeck to build new £50m Cardiff County Hall

German-owned contractor vowing to be a "disrupter in the UK market"
6 days ago

Laing O’Rourke chairman to step down

Ray O'Rourke to take over chair from Sir John Parker
6 days ago

Farrans lands Leeds Bradford Airport phase 2 upgrade

Contractor takes follow-on refurb job after terminal extension
6 days ago

ISG built Bristol housing block to be torn down

Contractor's collapse sinks Bristol flats remediation claim
6 days ago

RSK revenue nears £2bn as losses soar to £132m

Refinancing last summer puts group on course for more growth this year
6 days ago

Contractor services