A Teeside construction and civil engineering company has closed after administrators from corporate recovery specialists Quantuma were appointed.

Contracts disputes caused construction company to close  

A Teeside construction and civil engineering company has closed after administrators from corporate recovery specialists Quantuma were appointed.

HCL Site Services Ltd, which was based at The Grange Business Park, Belasis Avenue, Billingham, Teeside, has closed with the loss of two jobs – most of its workforce consisted of subcontract staff.

The three-year-old company had a most recent annual turnover of £2 million with two large contracts accounting for 90% of its turnover.

When disputes arose over the two main contracts, payment was withheld and Carl Jackson and Simon Campbell of Quantuma were appointed administrators on 12 May 2017.

Quantuma director Simon Campbell said: “When disputes arose over the two main contracts being undertaken by the business, the company was unable to meet its obligations to creditors.

“As there was no other value in the business, it was closed prior to our appointment.”

Ends (142 words)

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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, Bristol and Manchester.