Construction company, Red Architectural Ltd., and its sister company, Red Aluminium Ltd. have entered administration. Deloitte have been appointed as administrator and have stated they are only advising staff and customers at this stage.
Based in Cheshire, the 40-year old company provides roofing, glazing and general engineering services. It previously worked on Central Park in Manchester as well as the Westfield shopping centre in Stratford, London; In 2012, their turnover was £29.7 million. Deloitte have indicated Red will trade out existing contracts for a short period of time until there can be a wind down of the company.
For some small construction companies, ever increasing costs can be a struggle if they already have fixed contracts, causing cashflow issues if the company takes on new contracts without being paid. If your firm is having financial problems, please do not hesitate to contact us on 0800 9700593. Do also visit our case studies page on rescuing construction companies.