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Commercial Property

Construction Partnership º£½ÇÊÓÆµ falls into administration as search for buyer begins

Skelmersdale-based firm's projects included schemes in Salford, Chester and Liverpool City Centre, but it ran into financial difficulties

The Rise Development on Low Hill(Image: LIVERPOOL ECHO)

A contractor that had been working on various high-profile developments across the North West has fallen into administration - and efforts are now underway to find a buyer.

Skelmersdale-based Construction Partnership º£½ÇÊÓÆµ's projects included schemes in Salford, Chester and Liverpool City Centre, but the firm ran into financial difficulties.

The privately-owned contractor has over 20 years' experience delivering schemes in both the private and public sector, but Steven Muncaster and Sarah Bell of Duff & Phelps were appointed joint administrators on 24 April.

Mr Muncaster said: “CPº£½ÇÊÓÆµ has come under increasing pressure over the past 12 months due to a combination of factors including an increasingly competitive market and raw material price increases.

"The company exhausted all options in terms of finding a solution to the current financial issues, caused by a combination of problem contracts and bad debts.

"The combined effect of these, coupled with the uncertain outlook for the construction industry in the wake of the coronavirus pandemic has caused a drain on the company’s cash reserves and it had no other option but to appoint administrators.”

The company mainly operates across the North of England and the Midlands, undertaking new build and refurbishment contracts carried out under traditional and design and build arrangements across most building sectors in the value range £1m to £25m.