Demolition contractor Squibb Group in administration
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
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
PBC Business Recovery and Insolvency are understood to have taken control of the Corby groundworks and civil engineering contractor.
Related business McCormack Site Services (Ireland) Limited has also gone into administration, it is understood.
The business had suffered a series of cancelled and deferred projects, leaving it unable to maintain a positive cash flow in the coming months.
Consultants from business advisory firm BDO have been appointed as joint administrators.
Inland Homes recently announced the proposed acquisition of NorthCountry Homes Ltd, however the deal has now been cancelled.
A string of notices to appoint an administrator were filed by the Group’s main businesses.
Octavius Infrastructure Limited has purchased the business assets and most of the customer contracts of R&W Civil Engineering Limited.
A nearly 200-year-old building contractor has fallen into administration.
A civils contractor in the south of England looks set to file for administration.