Chinese modular giant winds up main UK business

Aaron Morby 4 months ago
Share

International modular buildings giant China International Marine Containers has wound up its main UK business.

CIMC modules were used for a £75m student accommodation project built by Galliford Try for Newcastle University
CIMC modules were used for a £75m student accommodation project built by Galliford Try for Newcastle University

CIMC Modular Building Systems built around a dozen projects here including several Travelodge, Premier and Hilton hotel projects as well as student accommodation schemes.

The main UK business, CIMC Modular Building Systems and its development arm first set up to promote the modular system have both been placed in voluntary liquidation by managing director Jason Taylor.

A source said: “CIMC MBS is a global business with regional offices in the UK, US and Australia and the main, head office in Southern China.

“Due to the financial impact of the current pandemic, we have had to undergo some serious restructuring.

“The UK business in particular has had to absorb some large debt from clients who have not paid us for completed schemes and we’ve suffered a reduced order book due to the significant downturn in the hospitality sector.

“These two major factors, in combination with the global situation, have meant that a number of the UK subsidiaries have become insolvent and been put into liquidation.

“There remains a CIMC entity in the UK and we are currently working on some very exciting projects including our first build to rent scheme which should start on site in 2021.

“The impact of the pandemic has been so wide and so deep that it has become impossible to survive without taking some fairly drastic steps.

“Recovery from this will be a long and challenging journey but we remain confident in our ability to continue to deliver projects and meet our clients’ expectations.”

The firm’s modular system developed from sea containers which were fully fitted out and finished in China and shipped to the UK.

According to last published account CIMC MBS lost £2.5m in 2018. During that year it delivered nearly 900 modules creating 1,317 hotel or student rooms.

Latest news

Green light for £1bn London hotel

Kensington Forum scheme is huge vote of confidence in capital's hospitality sector
26 mins ago

Lone Star offer to buy McCarthy & Stone for £630m

Private equity investor swoops with recommended cash offer to buy retirement homes specialist
3 hours ago

Legal & General signs construction deal with nine contractors

Southern construction partners chosen by Inspired Villages - more regions now up for grabs
3 hours ago

Priti Patel snubs plea to ease controls on foreign brickies

Some big brickwork contractors warn four in five workers are EU nationals
3 hours ago

Plans in for Poole quay housing and hotel scheme

Fisherman's Dock plan for 228 flats and boutique hotel
3 hours ago

McAleer & Rushe bounces back with £350m haul of orders

Spate of wins restores two-year order book to near pre-Covid levels
3 hours ago

Graham signs off £161m Aberdeen hospital deal

Work to start next month of Baird Family Hospital and ANCHOR cancer centre
3 hours ago

ISG starts new £50m Royal Marsden cancer centre

Oak Cancer Centre due for completion in Summer 2022
23 hours ago

Vital Energi lands £6.58m energy centre deal

Specialist to build Combined Heat & Power centre on Galliford Try site
18 hours ago
Vital Energi

Causeway Donseed offers non-contact site monitoring

Facial recognition makes access control Covid safe
18 hours ago

Osborne wins prelims for £1.7bn Stonehenge route

Record £35m archaeological protection and excavation deal also signed
1 day ago

Industry door and window supplier collapses

North West's Total Glass falls into administration
1 day ago

Hill Group launches £300m London land grab

Land buying drive to boost housing pipeline in the capital
1 day ago

Mace £500m Stevenage town centre revamp approved

Mace says town centre plan is a blueprint for Government build back better ambitions
2 days ago

McAleer & Rushe wins Brixton archive and homes job

Final phase of Muse's Lambeth Town Hall scheme gets underway
1 day ago

Alumasc and Travis Perkins see sales continue to rise

Post lockdown demand continues but commercial construction lagging other sectors
1 day ago

Big name winners confirmed for CITB management training cash

Major contractors get £2.8m towards in-house training for senior staff
2 days ago

B&K starts £70m MediaCity resi scheme

14 and 17 storey blocks will contain 280 flats for sale
2 days ago

Civils outfit Bemus heads for liquidation owing £4.6m

Founder Sean Walsh applies for creditors voluntary liquidation
2 days ago

UWE Bristol to tender 900-bed student digs

Trio of six-storey blocks to be built at Frenchay Campus.
2 days ago

Amey trials pothole repair material made from old tyres

Unique rubber-modified material may be coming to Sheffield’s roads
2 days ago

HS2 reveals low-slung viaduct designs

Northamptonshire Edgcote and Lower Thorpe viaducts designed to be unobtrusive
3 days ago

Van Elle wins HS2 ground improvement deal

Firm will vibro pile 4,000 stone columns in north west London
3 days ago

Skanska wins Bristol Temple Street office job

Work to start next month on One Portwall Square project
3 days ago

Three sisters set-up plant hire business

Finnegan sisters buy first kit after securing funding deal
2 days ago

Network Rail SME spend tops £2.5bn for first time

Small and medium-sized firms account for 36% of total rail spend
3 days ago

Construction fears force immediate evacuation of London estate

Inspections raise serious concerns about Berkeley-built modular housing and student blocks
4 days ago

Bellway recladding costs overshadow hit from Covid

Pre-tax profit slumps 62% after £47m set aside for recladding and extra Covid costs
3 days ago

Workers stunned by construction pay freeze plan

Union slams "missed opportunity" to reward workers who have continued throughout pandemic
4 days ago

Former Multiplex chief joins data centre giant

Ashley Muldoon turns client after taking COO role at Global Switch
3 days ago

Contractor services