The Oxfordshire based construction company held a meeting of creditors to discuss the chance of liquidation as its latest accounts show it made a loss in recent years
A UK construction company are in liquidation talks as their accounts show a huge £2 million in debts.
Gravel Rock Limited, based in Oxfordshire, held a meeting of Creditors on Friday, July 10 where it was decided whether the firm should be liquidated.
The Gazette are yet to release the outcome of the meeting. The firm carried out complex construction contracts worth up to £75 million, according to the Oxford Mail.
It reportedly oversaw the the development of 246 apartments, 26 townhouses and a new public realm called Ashford Riverside Park.
According to Companies House, the business was incorporated on October 20, 2017.
The latest accounts for the business are dated to March 31, 2024 and it states creditors falling due within one year of £2,000,427, a significant decrease from the year before of £17,430,987.
The company is part of the GRE Capital Group. The document also states: “The financial performance of the company during the year ended 31 March 2025 resulted in a loss of £28,770, due to remedial works and customer care costs that were not passed onto Ashford Riverside Park.”
The news comes as several other firms in the construction industry appear to be struggling, with many entering liquidation.
Kingscroft Construction Limited, based in Staffordshire, with 35 years experience in the industry plunged into liquidation on June 18.
Before entering liquidation, Kingscroft Construction provided building restorations, complete new build work and building extensions in Stafford, Cannock, Wolverhampton and the surrounding areas.
