Legal bills, bad debts and delays caused by Building Safety Act helped send facades firm into administration

£100m business FK Group collapsed in February with the loss of more than 50 jobs

Alucraft close to dissolution as £4m of debt deemed ‘irrecoverable’

Facade specialist Alucraft Systems will enter dissolution after its administrators were unable to recover £4m worth of debts. Alucraft – which appointed administrators in March 2024 – will be struck off in June following a two-year administration process. Unsecured creditors will receive almost nothing from… The post Alucraft close to dissolution as £4m of debt deemed ‘irrecoverable’ appeared first on Construction News.

Data shows Covid-era debts still plague industry

Less than 15 per cent of emergency Covid loans issued to small construction companies have been paid back in the six years since the start of the pandemic, Construction News can reveal. Data obtained from the British Business Bank under the Freedom of Information Act… The post Data shows Covid-era debts still plague industry appeared first on Construction News.

Unpaid tax bills send 22-year-old practice under

The Architects’ Journal Unpaid tax bills send 22-year-old practice under Claridge Architects has been wound up after failing to pay off tax debts owed to HM Revenue and Customs (HMRC) The post Unpaid tax bills send 22-year-old practice under appeared first on The Architects’ Journal Richard Waite

New taskforce to tackle phoenix firms

A new dedicated taskforce is being created to target rogue directors setting up new firms from the ashes of their failed ones to avoid repaying debts. Under a raft of measures to tackle fraud announced in the Autumn Budget, chancellor Rachel Reeves said she will… The post New taskforce to tackle phoenix firms appeared first on Construction News.