A contractor that had been working on various high-profile developments across the North West has fallen into administration - and efforts are now underway to find a buyer.
Skelmersdale-based Construction Partnership UK's projects included schemes in Salford, Chester and Liverpool City Centre, but the firm ran into financial difficulties.
The privately-owned contractor has over 20 years' experience delivering schemes in both the private and public sector, but Steven Muncaster and Sarah Bell of Duff & Phelps were appointed joint administrators on 24 April.
Mr Muncaster said: “CPUK has come under increasing pressure over the past 12 months due to a combination of factors including an increasingly competitive market and raw material price increases.
"The company exhausted all options in terms of finding a solution to the current financial issues, caused by a combination of problem contracts and bad debts.
"The combined effect of these, coupled with the uncertain outlook for the construction industry in the wake of the coronavirus pandemic has caused a drain on the company’s cash reserves and it had no other option but to appoint administrators.”
The company mainly operates across the North of England and the Midlands, undertaking new build and refurbishment contracts carried out under traditional and design and build arrangements across most building sectors in the value range £1m to £25m.
Projects included The Waterhouse in Salford - a Forshaw Group scheme delivering 86 apartments in Salford, a Whitecroft Group 72-apartment scheme in Chester, and as leading contractor on Primesite's £23m The Rise - a 400-unit development in Liverpool city centre.
The latter project went into administration in February.
According to administrators Duff & Phelps, due to the coronavirus pandemic, the business has temporarily ceased trading, and all staff were placed on furlough leave by the company prior to the administration.
The employees will remain on furlough leave and the joint administrators are now looking at a sale of the business and assets of the company "as a going concern in the first instance".
