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Mon October 26 2020

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Trent Concrete in administration as BSF cuts bite

14 Sep 10 Nottingham-based Trent Concrete has gone into administration after uncertainty caused by the cancelling of Building Schools for the Future.

Nottingham-based Trent Concrete has gone into administration after uncertainty caused by the cancelling of the Building Schools for the Future (BSF) programme.

The precast concrete specialist called in KPMG after running into cashflow problems, and because of doubts over public sector contracts.

Joint administrative receiver Richard Philpott said there would be no immediate redundancies and he hoped to find a buyer for the firm.

He said: "The business has historically been engaged in long term contracts and its pipeline of future work has suffered from the inherent uncertainties surrounding various public sector projects.

"During the last 12 months it has also suffered a significant drop in turnover leading ultimately to the cash pressures and trading difficulties faced by the business today."

Trent had won work though BSF which is now unlikely to materialise.

However, it has two ongoing long-term contracts and the joint administrators said they will try to keep the business trading while they look for a buyer.

Philpott said: "We are optimistic that trading on in receivership will be viable with stakeholder support and we anticipate considerable interest from potential buyers of the business as a going concern. Any interested parties should please contact the receivers at KPMG."

Trent Concrete specialises in architectural cladding and structural concrete.

It was founded in 1917 and employs 150 people from its 5.5 hectare Nottingham site.

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