NORTH EAST CONTRACTOR GOES INTO ADMINISTRATION
Leading contractor developer for the social housing sector, Lane End Developments Construction, has gone into administration.
The Warrington-based business operates across the North West of England and Wales.
Managing directors of insolvency firm Quantuma Jeremy Woodside and Frank Ofonagoro, both of the firm’s Manchester office, have been appointed joint administrators.
The company was set up in 2016 and has built more than 1,100. It currently has live projects on 17 different sites – which aimed to create 1,700 new homes – employing 118 staff.
Current projects include delivering a 177 affordable homes scheme in Llandudno in partnership with ClwydAlyn and a 60 home scheme with Torus in Wigan.
In its last financial year, to the end of May, 2022, the company generated revenues of around £81m with a pre-tax profit of nearly £250,000.
Mr Woodside said: “This is obviously a very difficult and uncertain time for the company, its employees and suppliers, and its wider stakeholders.
We’re currently working alongside potential funders and senior management to assess the options available to them to restructure Lane End Developments Construction and allow it to continue to operate and deliver housing projects.”
