Henry Construction: Staff let go amid probe into collapse

The collapse of Henry Construction Projects has seen 40 members of staff made redundant – as administrators try to understand the events leading up to its insolvency. 

FRP Advisory, the corporate restructuring firm appointed as joint administrators of Henry, have confirmed the “majority” of the £400 million turnover company’s workforce has now been let go.  

Henry filed for administration on Thursday 8 June, amid a string of legal claims. FRP was appointed to Henry’s case the same day. 

Its collapse came amid reports of ‘works stopping across building sites’, according to the Enquirer.  

However, in addition to at least five winding up petitions filed against the tower builder, Henry also appeared to have lodged counter claims against several other firms in the construction sector. 

Since then, FRP has been assessing the position of Henry’s business, including its assets and liabilities, with advice from sector professionals.  

Property consultancy, Gateley Vinden, is helping FRP contact developers with whom Henry was known to have engaged. 

Whereas asset valuation and sales practice, Hilco Valuation Services, is supporting with asset recovery and the disposal strategy.  

Henry has now stopped trading altogether. 

And while 40 members of Henry’s staff have been made redundant, a small number have been kept back to assist administrators. 

In Southampton, it is understood developer, Tellon Capital, is “in the process of finding a new construction partner” for its £132 million Bargate Quarter development of 519 new homes, where Henry was principal contractor. 

Elsewhere, in Gravesend, northwest Kent, work has “temporarily paused” on The Charter development of 242 flats and a multi-storey car park in the town centre, where Henry was the main contractor. 

It is understood Henry had around 30 live projects when it collapsed.   

“Henry Construction was a significant player of scale in the UK market,” said David Hudson, partner at FRP. “Unfortunately, given its financial position, it was not able to continue trading and so all operations have ceased.  

“Regrettably, the majority of staff have been made redundant and we are supporting them in making the appropriate claims to the Redundancy Payments Office. 

“We continue our work to gather information about the assets and liabilities of the business and understand the events leading up to the insolvency.  

“As part of that process, we are engaging with developers regarding the status of each site.” 

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