Quantuma to assist in placing the company into Creditors’ Voluntary Liquidation
Business advisory firm Quantuma has been instructed by Saxonby Construction Limited to assist on placing the company into Creditors’ Voluntary Liquidation.
This follows on from Quantuma being appointed voluntary liquidators of Saxonby Plant Limited, which shares common directors and shareholders with Saxonby Construction, on 13th May 2019.
Both companies are based in Shrewsbury, with Saxonby Plant founded in 2014 and Saxonby Construction in 2017. Saxonby Plant and Saxonby Construction had a recorded turnover of £212,000 and £380,000 respectively in December 2017.
Saxonby Plant offers plant hire, sales and purchase, haulage and muck-away services to the construction sector. The company ceased to trade after it purchased assets following the administration of two connected entities - Saxonby Homes Limited and Saxonby Affordable Housing Limited - in spring 2018. 16 employees were made redundant in March prior to Quantuma’s appointment. Due to Saxonby Construction’s direct connection to its sister company, the firm was also unable to continue operating.
Taz Rashid, partner at Quantuma was appointed sole liquidator to Saxonby Plant on 13th May 2019. Taz Rashid and Rehan Ahmed were then appointed as joint liquidators of Saxonby Construction on 9th July 2019.
Tauseef Rashid, partner at Quantuma, said: “Due to financial difficulties the directors of Saxonby Construction and Saxonby Plant have instructed Quantuma to place both companies into voluntary liquidation.”
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).