Home Commercial News Canterbury-based construction contractor goes into Administration

Canterbury-based construction contractor goes into Administration

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Canbury Construction goes into administration
Construction workers for a private government contractor lay wire mesh onto newly poured concrete during the construction of the new Fire Department at Royal Air Force (RAF) Mildenhall, England.

On August 4th, 2016, Duncan Beat and Alexander Kinninmonth were chosen to serve as Cardy Construction Limited’s joint administrators.

Incorporated in 1993, Cardy Construction specialised in large-scale, high-quality construction contracts throughout Kent and the South East area. With its headquarters in Canterbury, Kent, the business ran operations while having over 200 employees and subcontractors. Due to losses and an unstable cash flow, the directors decided to appoint Cardy Construction’s Administrators. All of the workers were let go. Regarding its claims, the Redundancy Payments Service is in charge.

One of the Joint Administrators and a partner at RSM Restructuring Advisory, Duncan Beat, stated: “We are collaborating with our expert consultants to evaluate the company’s contracts and liquidate the remaining assets to maximise realisations for creditors. Several Cardy employees, suppliers, and subcontractors are hoping to be employed again by the local contractors who will now finish the company’s unfinished projects.

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