Greater Manchester-based construction firm FK Construction has appointed administrators – it was part of FK Group which has worked on a variety of projects across a range of sectors
A major UK construction company has been plunged into administration.
Greater Manchester-based firm FK Construction has appointed administrators. The firm is part of the facade specialist FK Group, which entered administration last month.
BTG, formerly known as Begbies Traynor Group, previously announced two of its staff were appointed as administrators for holding company FK Group Ltd plus FK Construction Ltd and FK Facades Ltd.
A notice published on The Gazette — the official public record website — confirmed administrators from BTG had been appointed for FK Construction. It follows warnings from one sector of the industry that a slowdown in building was pushing firms to “breaking point”.
Ensure our latest headlines always appear at the top of your Google Search by making us a Preferred Source. Click here to activate or add us as your Preferred Source in your Google search settings.
FK Group was established in 1979 and on its website describes itself as the “UK’s leading full building envelope provider, specialising in roofing, cladding, glazing and maintenance across many sectors”.
The group said it has worked on a variety of projects across a range of sectors, including the expansion of the south stand of Manchester City’s Etihad Stadium and the new Main Stand at Anfield, home to Liverpool FC.
According to the Construction Enquirer, Keenan Holdings rescued 54 jobs and key live contracts from the collapse of FK Group into administration. Administrators were appointed for FK Group, FK Facades and FK Construction while the group’s building safety and remediation contractor FK Resolv has avoided administration and continues to trade, Express reports.
David Hopkins, partner at BTG Begbies Traynor, said: “This is a significant restructuring of the Group’s assets and operations. The directors of the Group explored a number of avenues prior to this decision and established that this was the best route forward for all stakeholders, creditors and the future of the Group.
“As part of this restructuring process we will be focused on delivering the best outcome for all creditors. This will include realising the Group’s assets for the benefit of creditors.
“The leadership of the Group were focused on delivering the best possible outcome for all creditors, and the jobs of a number of employees, together with certain contracts they were working on, have been able to continue under a new name.
“We hope that the skilled employees that were made redundant before our appointment are able to find new roles soon, as their talents are much needed as the industry seeks to fulfil building targets and housing demands.”
