Administrators in at Hampshire building firm
Business rescue and recovery experts Quantuma have been called in to take control of a Winchester building business.
Carl Jackson and Simon Campbell have been appointed joint administrators of Wilding Butler Construction Limited.
Eleven of the firm’s workforce have been made redundant. Two others have been retained to assist.
Based at Wessex Way, Colden Common, Wilding Butler Construction Limited was founded in 1993, initially involved in small domestic property extensions and alterations.
Picking up wider work, it subsequently concentrated on public and commercial schemes, undertaking new build, extensions, refurbishment, alterations, fit-outs and design build projects in a £500,000 to £5 million range throughout Hampshire and surrounding counties.
The firm, which frequently used a significant number of locally-based sub-contractors, had clients in the automotive, education, ecclesiastical, health, housing, leisure and retail sectors.
However, it recently hit problems, with Quantuma pinpointing “cash flow difficulties arising from contractual issues and an unsuccessful arbitration process”.
Mr Jackson said: “We always try where possible to save businesses and sell them on but in this case our assessment is that unfortunately it is not going to be possible.”
A specialist quantity surveyor is currently assessing a small number of on-going contracts with a view to us considering how best to proceed. However, we would expect that in due course an orderly wind-up of the business will take place.”
For further information, please contact:
Andy Skinner, Managing Director, ASAP PR – 07990 978257
Marie Wadeson, Head of Marketing,
Quantuma LLP, Vernon House, 23 Sicilian Avenue, London, WC1A 2QS
Tel: 07464 545678
Notes to Editors
Quantuma LLP is a leading restructuring and insolvency practice delivering partner-led solutions to businesses and individuals facing financial distress with offices in London, Southampton, Marlow, Watford, Brighton and Bristol.