Cheshire civils contractor went down owing suppliers £3.5m
The dimension of the firm’s debts contain been printed in an update filed at Companies Condominium by administrator BDO LLP. More than 250 unsecured collectors contain been left preserving unpaid invoices following the firm’s death. M Igoe had been in alternate since 1985 specialising in civils work for valuable residence builders across the North West.
The dimension of the firm’s debts contain been printed in an update filed at Companies Condominium by administrator BDO LLP.
More than 250 unsecured collectors contain been left preserving unpaid invoices following the firm’s death.
M Igoe had been in alternate since 1985 specialising in civils work for valuable residence builders across the North West.
The firm had 32 employees and frail more than 90 subcontractors working on 11 live contracts when it went below.
BDO acknowledged the £20m turnover contractor used to be sunk by delayed contracts and rising costs which led to higher monetary institution borrowing and director’s loans of more than £1.5m in a uncover to preserve the alternate going.
The weakening housing market in 2023 used to be the final straw ensuing in a cash inch along with the dart crisis and suppliers withdrawing their companies and products.
