The scale of Curo’s financial difficulties has been revealed in an update filed at Companies House by administrators appointed to the firm in July.
Curo owed £860,000 to its 135 former employees, while outstanding VAT, PAYE and National Insurance liabilities to HMRC stood at almost £3 million.
Its sister company, Curo Interiors, also entered administration in July. The business owed £1.9 million to suppliers and a further £450,000 to tax authorities.
Founded in 2013, Curo built a strong position in London’s refurbishment and fit-out market. The company worked across commercial offices, heritage projects, industrial schemes, data centres and film studios.
Its projects included work at Shinfield film and TV studios near Reading, along with high-end office fit-outs across London. Projects were typically valued between £2 million and £80 million.
Curo’s latest accounts, covering the year to September 2024, showed turnover falling from £157 million to £108 million. The decline followed the completion of its flagship Shinfield Studios project and delays to the start of new schemes.
Pre-tax profit also fell sharply, from £3.2 million to £1.2 million. Cash reserves declined from £22 million to £11 million over the same period.
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