Demolition contractor Squibb Group in administration


Squibb Group Limited has filed for administration after 75 years of trading. 

Credit: Squibb Group Limited.

The family-run demolition contractor, headquartered in Essex, filed an application with the Companies Court last week (17 November). 

The 75-year international business, which is understood to have employed around 180 staff, has offices in Stanford-le-Hope, Birmingham, Manchester and Dubai. 

However, most of the business’ staff have now been made redundant, it is understood. 

Founded by Harry Squibb in Stepney in 1948, Squibb Group (originally H. Squibb and Son) grew to be one of the leading demolition specialists in the UK, also comprising Squibb Environmental, Squibb International, and Squibb Nuclear. 

Group accounts for the year ended 31 January 2022 show turnover of nearly £33 million (FY2021: £31.3 million), operating profit of £1.4 million (FY2021: £3.1 million) and profit for the year of £614,670 (FY2021: £1.6 million).  

Total income was £311,286, compared to £3.3 million in the previous financial period. 

It appears the Group has retained London legal firm Keystone Law as counsel, according to court documents.  

Business recovery specialist Begbies Traynor is understood to have managed a Company Voluntary Arrangement on behalf of Squibb Group. 

Squibb Group was approached for comment.  

Begbies Traynor declined to comment.  

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