Roofing giant Avonside goes into administration

Grant Prior 3 years ago
Share

The UK’s largest roofing contractor has fallen into administration.

Begbies Traynor is now in charge of Avonside Group Services which employs 465 people and installs more than 17,000 roofs a year for house builders via its 39-strong branch network across the UK.

The administrators have managed to sell nine roofing branches saving 79 jobs and are hoping to find a buyer for Avonside’s energy division which is continuing to trade.

The remaining roofing operations and Avonside’s plumbing business will cease trading.

A spokesperson for Begbies Traynor said: “The Group experienced a period of disrupted trading during the pandemic which, alongside margin squeeze, the impact of underperforming divisions and financial reporting issues, resulted in a requirement for extended working capital facilities.

“Despite extensive efforts from the management team, shareholders and advisors, the Group has been unable to secure the necessary funding from existing stakeholders, or third parties, to effect the required turnaround and enable continuation of trade in the current form.

“Following an accelerated sale process, the Joint Administrators have secured the future of nine Avonside Roofing branches, preserving 79 jobs via an administration sale to an industry buyer, which will see this part of the business continue as a going concern.

“Despite a positive outcome for a number of the Group’s Roofing branches, the difficult macro-economic backdrop and market conditions has meant that the Joint Administrators were unable to find suitable buyers for the remaining Roofing and Plumbing sites within the Group and as such all remaining Roofing and Plumbing branches are expected to be closed imminently.

“The Group’s Energy Division continues to operate out of its seven branches whilst negotiations continue to sell this division solvently.  Negotiations are advanced and it is hoped that these will be concluded successfully over the next 24 hours.”

Latest news

Hill hits record £90m profit as homes pipeline swells

Build-to-rent push and £4.8bn contracting book to fuel next growth phase
13 hours ago

Rayner unveils £39bn plan to build 300,000 social homes

Council building revival and rent reform feature in social and affordable homes plan
21 hours ago

Keltbray bounces back with £3.2m profit

Tighter controls and smarter project selection fuel strong turnaround
21 hours ago

VINCI JV wins 500-home twin town centre revamps

Chester Northgate phase 2 and Northwich Weaver Square schemes move to delivery stage
21 hours ago

80 energy projects unlocked as Ofgem backs grid expansion

£24bn energy networks deal gets green light from regulator
2 days ago

How to see your stories on the Enquirer

Join our Suppliers and Buyers directory to get your news published
21 hours ago

Henley lands Midland Mill revamp on Leeds tower scheme

Restoration of 18th-century mill kicks off on South Bank regeneration project
20 hours ago

New boss at Eric Wright Civil Engineering

Gavin Hulme takes top job as Diane Bourne moves to group role
1 day ago

Pinewood submits £1bn data centre plan

Studio giant adds green and learning spaces to tech hub blueprint
2 days ago

Record results after TClarke goes private

Britain's biggest M&E contractor flourishes after de-listing
2 days ago

Dalkia lands £200m nuclear maintenance deal

1,000 nuclear FM staff to join M&E contractor
2 days ago

Construction comeback to outpace wider economy

Arcadis forecast fueled by spending review optimism
3 days ago

First steel goes up on giant car battery site

Severfield gets to work on McAlpine Somerset site
3 days ago

Permasteelisa wins cladding deal on Bovis city tower

Facade specialist lands package at 60 Gracechurch Street
2 days ago

Fox buys recycled asphalt specialist Fisher

Acquisition adds major recycled asphalt capacity in north west
3 days ago

Major Building Safety Regulator shake-up to end tower delays

HSE stripped of control and top fire chiefs brought in to fast-track stalled schemes
3 days ago

Hinkley trio sign Sizewell civils deal

Balfour,Bouygues and Laing O'Rourke form Civil Works Alliance for new power station
3 days ago

£3.9bn data centre plan for Ravenscraig steelworks

Green energy to power massive new steel to silicon AI campus
3 days ago

Breakthrough on HS2’s second longest tunnel

8.4 mile Northolt to Old Oak Common drive completes
3 days ago

Neilcott on fast-track to debt-free employee ownership

£22.5m loan nearly paid down after big profit year
3 days ago

TfL kicks off race for £700m Tube station upgrade

South Kensington and Elephant & Castle top the pipeline list
3 days ago

Corbyn Plant Hire fleet goes under the hammer

Kit to be sold off by sister firm to collapsed groundworks contractor
3 days ago

Government wields procurement stick on late payment

New rules would block slow payers from bidding on big public jobs
6 days ago

Hercules buys power line labour firm for £15.7m

Labour supply specialist snaps up Advantage NRG to tap booming electricity upgrade market
6 days ago

Universal bid to fast-track planning for theme park

Entertainment giant eyes 2026 start at Bedford site
6 days ago

Developer Breck to transform former Ibstock brick factory

Ravenhead works to become 300-home development
6 days ago

SP Energy Networks awards contracts worth £1.4bn

First round of awards under £5.4bn national electricity grid upgrade programme
7 days ago

Travelodge to convert Liverpool Street office building

Office-to-hotel conversion in City of London
6 days ago

Plans lodged for 1m sq ft City of London office

Barbican landmark building will reuse 40% of existing structure
7 days ago

PTSG acquires roofing specialist HD Sharman Group

Premier Technical Services Group expands building maintenance division
6 days ago