Thursday, January 25, 2024 | Management
Midrand-based construction company Enrok Construction Limited has fallen into administration. This family-run company operates across the West and East Midlands and specializes in the design, construction and project management of commercial and residential developments.
The government comes at a time when construction companies across the UK are facing serious ongoing challenges. The Stafford-based company has been hit by the bankruptcy of a major supplier and contract delays in recent months, adding to existing cash flow pressures.
As a result, businesses were unable to trade. On January 23rd, he was immediately made redundant at Interpath Advisory when Tim Bateson and Ryan Grant were appointed joint administrators, and seven of the company's 80 employees were immediately made redundant.
Managers will now focus on realizing the company's assets. Tim Bateson said: “The building and construction industry continues to face a number of headwinds, including continued cost inflation and material shortages. “Profit margins are being hurt.”
“Our aim is to support the employees who have unfortunately been made redundant, while at the same time seeking to realize the assets of the company, including exploring the company's interest in a valid contract.”
Enrock, which traded as ATD Homes before rebranding in 2020, has offices in Dunstan, Stafford and Ednaston, Derbyshire. Initially, the company mainly focused on its own developments and contracts with housing developers. Since the rebrand, the company has increasingly positioned itself as a general contractor, taking on work outside of the Midlands and expanding into a new headquarters in Stafford in 2022.
The company's accounts for the year to 31 May 2022 value total assets at approximately £570,000 and net assets at £105,482.
The construction industry has been hit harder than any other industry by the rise in corporate insolvencies – find out more in this in-depth analysis of the challenges facing UK businesses
