76 years of hard work and dedication in the construction industry is a milestone not many companies reach. Unfortunately, this one couldn’t live to fight another day.
East Midlands-based firm Robert Woodhead has been placed into voluntary liquidation, with most staff being made redundant.
The company cited market conditions and the impact of rapid price increases throughout the supply chain, coupled with fixed price contracts as being the root cause of its demise.
Teresa Westwood, managing director at Robert Woodhead Limited, said: ‘The directors are devastated at having to make this decision.
“Having worked tirelessly to mitigate these issues over recent months, ultimately the business faced a range of cash flow challenges in recent weeks that proved insurmountable and concluded that the company could not continue trading.”
Among its projects left unfinished is a £36m job to build 400 homes and a wellbeing center in the Derbyshire areas of Langwith, Shirebrook, and Creswell.
According to the BBC, the Bolsover District Council has now taken over the completion of the project. Although the collapsed contractor was halfway through its four-year contract, the media outlet reports that only 37 homes have been readied so far.
Sources: Construction News and Construction Enquirer
Gary Fleisher is the Editor in Chief of Modular Home Source and Offsite Builder. Email at [email protected]
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