Britain’s oldest building company strikes deal with creditors

Grant Prior 5 months ago
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The country’s oldest contractor, R Durtnell & Sons, has agreed a debt repayment plan with its creditors.

The company ran into financial trouble last month after being in business since 1591.

Brighton and Hove City Council said the firm was no longer working on its £21m Dome Corn Exchange and Studio Theatre refurbishment after it had “ceased trading”.

But the company has now struck a company voluntary arrangement (CVA) with its creditors brokered by Begbies Traynor.

Documents filed at Companies House show creditors owed more than £8m have agreed to give Durtnell more time to pay its debts under the CVA.

Latest accounts filed at Companies House show R Durtnell made a pre-tax loss of £700,000 from £51.6m turnover in 2017.

During that year the company employed 108 staff.

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