Cruden files notice of intent to appoint administrator

Grant Prior 4 years ago
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Cruden Construction has filed a notice of intent to appoint an administrator.

Industry credit reference agency Top Service reported that the notice was filed on Friday.

The move protects companies from legal action by creditors while finance talks continue.

Latest accounts posted for Cruden Construction show the firm made an operating loss of £2.3m from a turnover of £38m during the year to September 30 2018.

One Cruden employee wrote on social media: “Friday was a very sad day for myself and all of my work colleagues who are part of the Cruden family.

“It’s been a pleasure to work with you all and a huge thank you for all your support, advice, encouragement, guidance and the enjoyable times throughout the last 20 years.

“Good luck in your future careers, hopefully our paths will cross again. Best wishes to you and your family during this uncertain period.”

Another added: “A number of companies will be getting some excellent people that’s for sure. It’s a hard pill to swallow but I’m confident that everyone will get fixed up over sooner rather than later.”

The 55-year-old Warrington based contractor has been contacted for comment.

Cruden Construction is a totally separate business to the Cruden Group of companies in Scotland.

Its chief executive  Kevin Reid said: “It has been announced that the “Cruden Group Limited” based in Warrington, North West England is regrettably entering into administration.

“For the avoidance of doubt, we would like to make it clear that, despite sharing a name, this organisation is an entirely separate business to our own. It was sold to Headcrown Group plc more than 30 years ago, and has had no connection to our own business since then.

“The Cruden Group of companies in Scotland, which is headed by Cruden Holdings Limited, and which includes Cruden Investments, Cruden Homes, Cruden Building and Hart Builders is very secure financially, with a strong forward order book in all divisions.

“We have recently announced a number of new contract wins across the Group and made several senior appointments.  Despite the economic environment, we remain very positive about the future and anticipate the Group continuing its unbroken run of 21 years of profitability.”

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