Unable to shake liabilities in residential projects, the Group has announced its fall into administration today
Sites across London and over 100 jobs are being threatened due to the Ardmore Construction Group administration.
The move comes as the Group have missed several payments to staff and subcontractors alike.
All businesses in the group are affected
Administration notices have also been filed for Ardmore Major Projects, Regeneration, Fitout Ltd, and Landmark Facades Ltd. No application for administration has been filed for Ardmore Hotels & Commercial.
Moratorium notices have been filed by Celebration Homes Ltd, Byrne Properties Ltd, Byrne Estates (Kensal Green) Ltd, Paddington Construction Group Ltd, and Systemhaven Ltd.
Ardmore had about 10 major projects across London which have been left unfinished, with clients needing to replace contractors, and the last recorded turnover was £350m.
The Group has spent the last year addressing fire safety remediation in their legacy historic developments as a result of regulatory changes following the Grenfell fire.
“Important questions for the wider industry”
These filings follow a High Court claim made by Bellway for £53.4m over alleged defects left by Ardmore at City Peninsula in London. Bellway has been chasing building liability orders against the Ardmore Group, including the Construction Group and Group Holdings.
The alleged defects have been referred to as structural defects found in fire-safety remedial works and present a “very serious health and safety risk.”
An Ardmore spokesperson said: “This is a deeply disappointing outcome for the construction group, its employees and its stakeholders.
“Our focus is now on preserving value in the wider Group, protecting the continuing businesses where possible, and pursuing the appeal against a judgement which we believe raises important questions for the wider industry.”
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