Subsidiaries of Geoffrey Osborne Limited have followed action taken by the main company last week and filed notices of their intention to appoint an administrator.
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Osborne Construction Limited, Osborne Group Holdings and Osborne Homes Limited have all lodged similar applications with the Companies Court, following the major announcement by the Surrey contractor on Friday (19 April).
Developer and builder Geoffrey Osborne was started in 1966 by a civil engineer of the same name, Geoffrey Osborne.
After 58 years of trading the historic industry name, whose principal shareholders are still the Osborne family, struggled to stay afloat after a difficult period despite selling off certain assets.
Chairman Andrew Osborne said last week: “While today’s decision to move towards administration is a last resort, it is now the right thing to do while we continue to seek external investment.”
In a follow up statement, the company said: “Further to our earlier announcement, we can confirm we have now also filed notices of intention to appoint administrators to three divisions of the Group.
“These are Osborne Construction Ltd, Osborne Group Holdings and Osborne Homes Ltd.”
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