Creditors fear £4m hit from M-AR administration

Grant Prior 3 weeks ago
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Hull based modular contractor Module-AR (M-AR) is in administration with suppliers and subcontractors braced for major losses.

Companies House filings show Begbies Traynor took control of the business late last week.

The firm has a 100,000 sq ft factory and recently won places on the government’s £10bn Offsite Solutions Framework and LHC Procurement Group’s Modern Methods of Construction of New Homes (NH3) Framework.

Latest accounts for M-AR show the company had a turnover of £29.9m for the year ended March 31 2022 generating a pre-tax profit of £815,000.

The accounts also show the company employed 73 people and owed £3.9m to trade creditors.

M-AR has been in business for more than 15 years and recently updated its mission statement to “Being brave enough to drive change through fresh thinking and collaboration in everything we do. Delivering exceptional projects, breaking down the barriers and inspiring a new generation of construction professionals.”

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